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Estimation results of endogeneity test
| Variables | IV - 2SLS | |
|---|---|---|
| The first stage | The second stage | |
| DG |
0.391*** (0.065) |
|
| L.DG |
0.750*** (0.052) |
|
| Control variables | √ | √ |
| _cons |
−0.209 (0.165) |
1.546*** (0.245) |
| Kleibergen-Paap rk LM |
31.033 (0.0000) |
|
| Shea’s partial R2 | 0.5842 | |
| Cragg-Donald Wald F |
205.808 (0.0000) |
|
| Obs. | 270 | 270 |
∗p < 0.1, ∗∗p < 0.05, ∗∗∗p < 0.01
