Table 4 Determinants of digitalization,...

Table 4

Determinants of digitalization, POLS, REM and FEM

	Model-[1]	Model-[2]	Model-[3]
	DV = LNIU
	POLS	REM	FEM
GDPGR	0.003 [0.010]	0.026^** [0.012]	0.026^** [0.010]
INF	−0.016 [0.013]	−0.011 [0.016]	−0.009 [0.016]
LNDCPS	0.618^*** [0.068]	0.994^*** [0.198]	0.882^*** [0.175]
LNGCP	0.384^*** [0.104]	0.316 [0.214]	0.365^* [0.183]
FDI	−0.032^*** [0.006]	−0.008 [0.012]	−0.004 [0.011]
LNGCE	−0.018 [0.013]	0.023 [0.039]	1.429^*** [0.410]
PGR	0.043 [0.059]	0.022 [0.134]	−0.008 [0.160]
LNTRADE	0.207^** [0.088]	0.132 [0.287]	0.484 [0.294]
UNM	−0.002 [0.014]	0.084^** [0.040]	0.088^* [0.044]
URBAN	0.026^*** [0.002]	0.020^*** [0.008]	0.036 [0.034]
POL	0.058 [0.056]	0.424^*** [0.132]	0.565^*** [0.144]
COR	−0.025 [0.078]	−0.167 [0.242]	−0.024 [0.272]
YD	yes	yes	yes
CONS	−4.348^*** [0.735]	−6.488^*** [2.165]	−48.376^*** [11.667]
# of observations	445	445	445
F stat/χ²	56.068	1624.850	59.840^***
BPLM test		680.110^***
Hausman test			77.690^***
R²	0.841	0.802	0.828
# of countries	29

	Model-[1]	Model-[2]	Model-[3]
	DV = LNIU
	POLS	REM	FEM
GDPGR	0.003 [0.010]	0.026^** [0.012]	0.026^** [0.010]
INF	−0.016 [0.013]	−0.011 [0.016]	−0.009 [0.016]
LNDCPS	0.618^*** [0.068]	0.994^*** [0.198]	0.882^*** [0.175]
LNGCP	0.384^*** [0.104]	0.316 [0.214]	0.365^* [0.183]
FDI	−0.032^*** [0.006]	−0.008 [0.012]	−0.004 [0.011]
LNGCE	−0.018 [0.013]	0.023 [0.039]	1.429^*** [0.410]
PGR	0.043 [0.059]	0.022 [0.134]	−0.008 [0.160]
LNTRADE	0.207^** [0.088]	0.132 [0.287]	0.484 [0.294]
UNM	−0.002 [0.014]	0.084^** [0.040]	0.088^* [0.044]
URBAN	0.026^*** [0.002]	0.020^*** [0.008]	0.036 [0.034]
POL	0.058 [0.056]	0.424^*** [0.132]	0.565^*** [0.144]
COR	−0.025 [0.078]	−0.167 [0.242]	−0.024 [0.272]
YD	yes	yes	yes
CONS	−4.348^*** [0.735]	−6.488^*** [2.165]	−48.376^*** [11.667]
# of observations	445	445	445
F stat/χ²	56.068	1624.850	59.840^***
BPLM test		680.110^***
Hausman test			77.690^***
R²	0.841	0.802	0.828
# of countries	29

Note(s): Robust standard errors in parentheses. ***p < 0.01, **p < 0.05, *p < 0.1. BPLM: Breusch Pagan Lagrangian Multiplier Test. POLS: pooled ordinary least squares, REM: random effects model, FEM: fixed effects model and YD: year dummies

Equation: ${LNIU}_{i, t} = α_{0} + β_{1} {GDPGR}_{i, t} + β_{2} {INFR}_{i, t} + β_{3} {DCPS}_{i, t} + β_{4} LN {GCP}_{i, t} + β_{5} {FDI}_{i, t} + β_{6} {LNGCE}_{i, t} + β_{7} {PGR}_{i, t} + β_{8} {LNTRADE}_{i, t} + β_{9} {UNMR}_{i, t} + β_{10} {URBAN}_{i, t} + \partial_{1} {COR}_{i, t} + \partial_{2} {POL}_{i, t} + {γ D}_{t} + ε_{i, t}$

Source(s): Authors

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