Table 3.
Baseline regression results.
| (1) | (2) | (3) | (4) | (5) | |
|---|---|---|---|---|---|
| HC | HC | HC | HC | HC | |
| DE | 0.632*** (0.116) | 0.511*** (0.112) | 0.566*** (0.166) | 0.684*** (0.126) | 0.671*** (0.140) |
| GDP | 0.566*** (0.192) | 0.725*** (0.204) | −0.114* (0.064) | −0.109 0.083 | |
| OPEN | −0.401 (0.465) | −0.310 (0.469) | 0.011 (0.116) | 0.013 (0.126) | |
| PAT | −0.081*** (0.021) | −0.079*** (0.016) | 0.004 (0.010) | 0.004 (0.011) | |
| POP | 0.029* (0.015) | 0.025 (0.015) | 0.183*** (0.026) | 0.175*** (0.031) | |
| POP2 | −0.000 (0.000) | 0.000 (0.000) | −0.000** (0.000) | −0.000** (0.000) | |
| URB | 4.098*** (1.236) | 4.671*** (1.410) | −1.798 (1.513) | −1.798 (1.568) | |
| Constant | 3.174*** (0.419) | −0.776 (0.793) | −1.619* (0.945) | 2.283 (1.440) | 2.283 (1.675) |
| Year F. E. | Yes | No | Yes | Yes | Yes |
| Province F. E. | Yes | No | No | Yes | Yes |
| Observations | 300 | 300 | 300 | 300 | 300 |
| R2 | 0.914 | 0.469 | 0.563 | 0.917 | 0.925 |
(Robust) Standard errors are shown in parentheses, *, **, and *** stand for statistical significance at the 0.1, 0.05, and 0.01 significance levels, respectively.