Table 6

Infrastructure channel

VariablesElectricityTelecommunicationTransportationFinance
(1)(2)(3)(4)(5)(6)(7)(8)
Sanction−0.575** −0.160*** −0.341*** −0.160*** 
(0.494) (0.042) (0.092) (0.042) 
Arms −0.032 −0.142 0.258 −0.142
 (1.078) (0.109) (0.157) (0.109)
Military −1.083** −0.039*** −0.169*** −0.039***
 (0.437) (0.046) (0.092) (0.046)
Trade −1.154*** −0.120*** −0.143*** −0.120***
 (0.340) (0.039) (0.077) (0.039)
Financial 0.933 −0.170* 0.432 −0.170**
 (1.009) (0.080) (0.160) (0.080)
Travel 1.585 −0.011 −0.143 −0.011
 (1.102) (0.096) (0.124) (0.096)
Other −1.191** −0.005 0.015 −0.005
 (0.541) (0.082) (0.157) (0.082)
Unemployment_ratio−0.212−0.584−0.542−0.465−1.405−1.713*−0.542−0.465
(4.176)(4.158)(0.567)(0.563)(0.948)(0.945)(0.567)(0.563)
Bank_branch2.352***2.875***2.245***2.269***−0.515−0.4062.245***2.269***
(2.557)(2.522)(0.223)(0.227)(0.480)(0.490)(0.223)(0.227)
Openess−1.506*−1.491*−0.343***−0.346***−0.189−0.181−0.343***−0.346***
(0.773)(0.789)(0.099)(0.102)(0.214)(0.218)(0.099)(0.102)
Government_size−18.248**−20.078**−2.303***−2.333***−3.714**−3.809**−2.303***−2.333***
(7.581)(7.843)(0.858)(0.869)(1.573)(1.610)(0.858)(0.869)
Population_density−0.079−0.053−0.032**−0.038***1.519***1.779***−0.032**−0.038***
(0.164)(0.167)(0.014)(0.014)(0.291)(0.313)(0.014)(0.014)
Constant2.665***2.933***7.786***7.783***3.483***2.949***7.786***7.783***
(1.757)(1.794)(0.208)(0.209)(0.520)(0.543)(0.208)(0.209)
Observations1,4331,4331,4281,4287817811,4281,428
R-squared0.9680.9690.9530.9540.9840.9840.9530.954
Country FEsYESYESYESYESYESYESYESYES
Year FEsYESYESYESYESYESYESYESYES

Note(s): Robust standard errors in parentheses

***p < 0.01, **p < 0.05, *p < 0.1

[ViewLarge]
This Feature Is Available To Subscribers Only

or Create an Account

Close subscription notice
Close access options