Table 11 Robustness tests for baseline regression.
Variables | Diff-GMM | Replacement of AI | ||||
---|---|---|---|---|---|---|
Model RL1 | Model RL2 | Model RL3 | Model RL4 | Model RL5 | Model RL6 | |
lnef | lnce | lnES | lnef | lnce | lnES | |
lnAI | −0.0032*** | −0.0013*** | 0.0025*** | |||
(0.0002) | (0.0002) | (0.0002) | ||||
lnai | −0.0023*** | −0.0017*** | 0.0026*** | |||
(0.0003) | (0.0002) | (0.0003) | ||||
L.Y | 0.2947*** | 0.8084*** | 0.9245*** | 0.8899*** | 0.8081*** | 0.9243*** |
(0.0081) | (0.0110) | (0.0022) | (0.0061) | (0.0110) | (0.0022) | |
lnNRR | 0.0308*** | 0.0191*** | −0.0543*** | 0.0030* | 0.0188*** | −0.0540*** |
(0.0014) | (0.0013) | (0.0027) | (0.0018) | (0.0013) | (0.0026) | |
lnURB | −0.0368 | −0.0698*** | −0.0634 | 0.1685*** | −0.0692*** | −0.0600 |
(0.2105) | (0.0218) | (0.0484) | (0.0241) | (0.0216) | (0.0492) | |
lnGOV | −0.2213*** | −0.1383*** | 0.1205*** | −0.1569*** | −0.1375*** | 0.1214*** |
(0.0139) | (0.0097) | (0.0076) | (0.0120) | (0.0096) | (0.0079) | |
lnED | 0.1577*** | 0.0760*** | −0.1843*** | 0.0097 | 0.0760*** | −0.1792*** |
(0.0225) | (0.0068) | (0.0126) | (0.0065) | (0.0067) | (0.0124) | |
lnFFE | 0.4419*** | 0.2680*** | −0.5796*** | −0.0076 | 0.2676*** | −0.5831*** |
(0.0235) | (0.0137) | (0.0318) | (0.0125) | (0.0135) | (0.0315) | |
lnEUSE | 0.1522*** | 0.0698*** | −0.0011 | 0.0587*** | 0.0696*** | −0.0023 |
(0.0210) | (0.0028) | (0.0027) | (0.0044) | (0.0028) | (0.0027) | |
Constant | −2.4802*** | −1.1917*** | 4.3109*** | −0.4717*** | −1.1970*** | 4.2722*** |
(0.7553) | (0.1161) | (0.2274) | (0.0955) | (0.1144) | (0.2355) | |
Observations | 1675 | 1742 | 1742 | 1742 | 1742 | 1742 |
Number of instruments | 105 | 105 | 105 | 105 | 105 | 105 |
Sargan test | 0.6806 | 0.9943 | 0.9977 | 0.9945 | 0.9943 | 0.9974 |
AR(2) | 0.8209 | 0.6015 | 0.4515 | 0.7024 | 0.5954 | 0.4518 |