Table 8 Endogeneity test.
IV method | ||
---|---|---|
First length | Second length | |
lnTP1 | lnEI | |
IV | 2.893*** | |
(0.429) | ||
LnTP1 | −0.244** | |
(0.098) | ||
lnPGDP | 0.329*** | 0.154*** |
(0.050) | (0.040) | |
lnECS | −0.104*** | 0.356*** |
(0.025) | (0.037) | |
lnIS | −0.429*** | −0.269*** |
(0.042) | (0.057) | |
lnEP | −0.768*** | 1.644*** |
(0.184) | (0.248) | |
lnGI | 0.446*** | 0.823*** |
(0.043) | (0.080) | |
_cons | 2.543*** | 0.377 |
(0.414) | (0.322) | |
N | 480 | 480 |
R2 | 0.751 | |
CD Wald F | 47.88 [8.96] | 47.88 [8.96] |
Kleibergen-Paap rk LM S | 28.85 | 28.847 |
Kleibergen-Paap P-val | 0.0000 | 0.0000 |