Table 7 Estimated model coefficients.

C

−0.62227 (0.36407)

−14.017 (12.53)

−3.148 (0.861)

DS

0.071 (0.055)

0.042* (0.021)

0.081* (0.0039)

KMC-RQ*DS

0.252*** (0.042)

0.269*** (0.063)

0.273*** (0.054)

KMC-EX*DS

0.617** (0.301)

7.914*** (0.001)

9.732*** (0.023)

KMC-ICT*DS

0.117*** (0.038)

0.180* (0.083)

0.235*** (0.017)

KMC-PAT*DS

0.317*** (0.038)

0.539*** (0.018)

0.752*** (0.005)

GDP

0.047*** (0.016)

0.210 (0.132)

0.078** (0.029)

EC

0.0238* (0.012)

0.092 (0.064)

0.036 (0.031)

TO

0.07** (0.003)

0.043* (0.0361)

0.002* (0.001)

POP

−0.0042 (0.0038)

−0.020 (0.056)

−0.07* (0.02)

DS-1

2.144** (0.818)

2.277** (1.079)

Time Dummies

Yes

Yes

Country Dummies

Yes

Yes

N

135

135

135

_R2

0.945

Wald-Chi²

1349.735

1471.523

p-Value of Sargantest

0.989

1.000

p-Value of AR(1)test

0.457

0.390

p-Value of AR(2)test

0.252

0.145