Table 3 Results of Driscoll Kray standard error panel regression.
VARIABLES | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
Foreign direct investment (FDI) | 0.008** | 0.007** | 0.007* | 0.007* | |||
(0.004) | (0.003) | (0.003) | (0.003) | ||||
Industrialisation (INDS) | 0.002** | 0.002*** | 0.002** | 0.002** | |||
(0.001) | (0.001) | (0.001) | (0.001) | ||||
Institutional quality (INSQY) | −0.037* | −0.037** | −0.029** | −0.032* | −0.026** | ||
(0.019) | (0.018) | (0.016) | (0.016) | (0.014) | |||
Energy consumption | 0.240*** | 0.245*** | 0.249*** | 0.240*** | 0.246*** | 0.249*** | 0.246*** |
(0.039) | (0.038) | (0.038) | (0.039) | (0.038) | (0.036) | (0.037) | |
Urban population | 0.414*** | 0.411*** | 0.292* | 0.321* | 0.287* | 0.279 | 0.276 |
(0.142) | (0.144) | (0.163) | (0.162) | (0.161) | (0.164) | (0.162) | |
Economic growth | 1.728*** | 1.914*** | 2.049*** | 1.851*** | 1.838*** | 2.136*** | 1.927*** |
(0.247) | (0.283) | (0.305) | (0.268) | (0.296) | (0.304) | (0.293) | |
Economic growth square | −0.088*** | −0.102*** | −0.105*** | −0.091*** | −0.089*** | −0.111*** | −0.095*** |
(0.018) | (0.021) | (0.021) | (0.018) | (0.019) | (0.021) | (0.019) | |
FDI × INSQY | −0.003** | −0.002** | |||||
(0.001) | (0.001) | ||||||
INDS × INSQY | −0.002*** | −0.002*** | |||||
(0.000) | (0.000) | ||||||
Constant | −17.866*** | −18.618*** | −19.070*** | −18.246*** | −18.309*** | −19.355*** | −18.588*** |
(0.782) | (0.871) | (0.745) | (0.719) | (0.699) | (0.880) | (0.851) | |
Observations | 944 | 944 | 944 | 944 | 944 | 944 | 944 |
Number of groups | 45 | 45 | 45 | 45 | 45 | 45 | 45 |
