Fig. 5: Regression results.
a Baseline fixed-effects panel regression results for LCRPGR > 0. The sample size is n = 1209 (independent country-year observations). Bars represent regression coefficients (center points) with 95% confidence intervals (error bars). Statistical significance was assessed using a two-sided t-test. b Instrumental variables regression results for LCRPGR > 0. The first stage has a sample size of n = 1291, and the second stage has a sample size of n = 1095 (independent country-year observations). Statistical significance was assessed using a two-sided t-test in the first stage and a two-sided z-test in the second stage. Exact p-values are provided, with significance levels indicated. c Baseline fixed-effects panel regression results for LCRPGR > 0, using property rights protection as the key explanatory variable. The sample size is n = 877 (independent country-year observations). Bars represent regression coefficients with 95% confidence intervals. Statistical significance was assessed using a two-sided t-test. d Probit model results. The sample size is n = 484 (independent country-year observations). Bars represent regression coefficients with 95% confidence intervals. Statistical significance was assessed using a two-sided z-test.
