Table 9.

Spillover effect analysis.

Variable	GTFP		GEC		GTC
	Direct effect	Spillover effect	Direct effect	Spillover effect	Direct effect	Spillover effect
LnLHEE	0.080** (0.031)	0.391** (0.070)	0.050** (0.023)	−0.094*** (0.034)	0.011 (0.015)	0.709*** (0.062)
Gov	−0.010*** (0.002)	−0.001 (0.004)	−0.006*** (0.001)	−0.004* (0.002)	−0.001 (0.001)	−0.004 (0.004)
Open	0.0003 (0.0003)	−0.0003 (0.001)	0.0003 (0.0002)	0.0002 (0.001)	0.0003* (0.0001)	−0.002 (0.001)
Inf	−0.002 (0.002)	−0.011 (0.010)	−0.001 (0.001)	−0.002 (0.004)	0.0002 (0.001)	0.0002 (0.009)
LnWay	0.001 (0.006)	−0.021 (0.024)	0.005 (0.004)	0.025*** (0.009)	−0.006** (0.003)	−0.093*** (0.022)
ρ	0.563*** (0.050)		0.219*** (0.071)		0.772** (0.024)
N	540		540		540
R2	0.210		0.204		0.792
Log-L	1306.767		1306.767		1306.767

*p <10 %, **p <5 %, and ***p <1 %.