Robust checking of the relationship between independent variables and dependent variables by applying Drisc/Kraay Std. Err approach
| Regressors | Robustness of Drisc/Kraay Std. Err | |||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Y | 2.0692*** (0.0930) | 2.5827*** (0.0898) | 1.9960*** (0.0964) | 2.9619*** (0.0954) |
| GE | −5.2735*** (0.4454) | −6.0736*** (0.4660) | −6.0719*** (0.5269) | −7.4649*** (0.5344) |
| (Y GE) | 0.5408*** (0.0568) | 0.6422*** (0.0575) | 0.6295*** 0.0669 | 0.8077*** (0.0650) |
| REC | −0.0400*** (0.0011) | −0.0513*** (0.0012) | −0.0267*** (0.0015) | −0.0495*** (0.0013) |
| FDI | 0.0058 (0.0062) | 0.0078 (0.0061) | 0.0105 (0.0066) | 0.0136** (0.0061) |
| EIA | 0.0422*** (0.0008) | |||
| EII | 0.0897*** (0.0050) | |||
| EIS | −0.0787*** (0.0018) | |||
| Constant | −12.5480*** (0.7752) | −17.6984*** (0.7643) | −14.2276*** (0.9071) | −15.7508*** (0.7252) |
| F-statistics | 3740.82 | 7915.36 | 3930.10 | 11,407.22 |
| Prob > F | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
| R-Squared | 0.4220 | 0.4323 | 0.4332 | 0.4510 |
| Max: Lag | 3 | 3 | 3 | 3 |
| Root MSE | 3.1541 | 3.1267 | 3.1243 | 3.0748 |
| Number of Observation | 1725 | 1725 | 1725 | 1725 |
| Number of group | 115 | 115 | 115 | 115 |
| Regressors | Robustness of Drisc/Kraay Std. Err | |||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Y | 2.0692*** (0.0930) | 2.5827*** (0.0898) | 1.9960*** (0.0964) | 2.9619*** (0.0954) |
| GE | −5.2735*** (0.4454) | −6.0736*** (0.4660) | −6.0719*** (0.5269) | −7.4649*** (0.5344) |
| (Y | 0.5408*** (0.0568) | 0.6422*** (0.0575) | 0.6295*** 0.0669 | 0.8077*** (0.0650) |
| REC | −0.0400*** (0.0011) | −0.0513*** (0.0012) | −0.0267*** (0.0015) | −0.0495*** (0.0013) |
| FDI | 0.0058 (0.0062) | 0.0078 (0.0061) | 0.0105 (0.0066) | 0.0136** (0.0061) |
| EIA | 0.0422*** (0.0008) | |||
| EII | 0.0897*** (0.0050) | |||
| EIS | −0.0787*** (0.0018) | |||
| Constant | −12.5480*** (0.7752) | −17.6984*** (0.7643) | −14.2276*** (0.9071) | −15.7508*** (0.7252) |
| 3740.82 | 7915.36 | 3930.10 | 11,407.22 | |
| Prob > | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
| 0.4220 | 0.4323 | 0.4332 | 0.4510 | |
| Max: Lag | 3 | 3 | 3 | 3 |
| Root MSE | 3.1541 | 3.1267 | 3.1243 | 3.0748 |
| Number of Observation | 1725 | 1725 | 1725 | 1725 |
| Number of group | 115 | 115 | 115 | 115 |
Note(s): Robust standard errors are in parenthesis
Source(s): Author's calculation
Asterisks (***, ** and *) denotes the significance level at 1%, 5 and 10% respectively
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