Table 11.
Complete output of two-stage least squares method (2SLS).
| Equation | Dependent variable | Predictor variable | Coefficient | T-value | p | Diagnostic indicators |
|---|---|---|---|---|---|---|
| Phase One | TAM | Tool variable [f] | 0.68 (0.09) | 7.56 | <0.001 | Deviation R2 = 0.32 |
| SSP | 0.52 (0.07) | 7.43 | <0.001 | Sheas R2 = 0.28 | ||
| SSP | Tool variable [f] | 0.61 (0.08) | 7.63 | <0.001 | CD Wald F = 19.37** | |
| Phase Two | ERE | TAM (fitted value) | 0.59 (0.08) | 7.38 | <0.001 | Sargan χ2 = 0.92 |
| SSP (fitting value) | 0.41 (0.06) | 6.83 | <0.001 | (p = 0.337) | ||
| SFS | SSP (fitting value) | 0.44 (0.07) | 6.29 | <0.001 | Basmann χ2 = 0.85 | |
| SND | 0.36 (0.05) | 7.20 | <0.001 | (p = 0.357) |
*p < 0.05; **p < 0.01.