Table 1.
Regression results for models 1–3
| Variables | Model 1 (GOV = CORC) | Model 2 (GOV = ROL) | Model 3 (GOV = ACC) |
| Log(AOHA) | −0.711§ (0.171) | −1.212§ (0.163) | −0.971§ (0.108) |
| Log2(AOHA) | 0.073§ (0.019) | 0.149§ (0.019) | 0.102§ (0.011) |
| Log(POP) | 1.406‡ (0.453) | 1.568§ (0.381) | 3.358§ (0.327) |
| Log2(POP) | 0.006 (0.016) | −0.0003 (0.014) | −0.068§ (0.011) |
| Log(GDPC) | 49.804§ (7.316) | 30.104§ (6.904) | 4.990 (5.754) |
| Log2(GDPC) | −6.596§ (0.965) | −3.988§ (0.911) | −0.626 (0.761) |
| Log3(GDPC) | 0.290§ (0.042) | 0.175§ (0.040) | 0.026 (0.033) |
| Log(EX) | 0.066 (0.044) | 0.099† (0.038) | 0.054* (0.028) |
| Log2(EX) | −0.004 (0.006) | −0.009* (0.005) | −0.006 (0.004) |
| Log(PEDS) | −0.119* (0.065) | −0.157‡ (0.055) | −0.142§ (0.041) |
| Log2(PEDS) | 0.003 (0.016) | 0.003 (0.014) | 0.001 (0.010) |
| Log(AVA) | −0.029 (0.048) | −0.048 (0.042) | −0.081† (0.032) |
| Log(PEDS) × log(AVA) | 0.054‡ (0.019) | 0.067§ (0.016) | 0.059§ (0.012) |
| GOV × AOHA | 0.001§ (0.0004) | 0.003§ (0.0003) | 0.004§ (0.0003) |
| Constant | −137.592§ (17.849) | −88.260§ (16.863) | −37.207‡ (13.690) |
| Adjusted R2 | 0.997 | 0.998 | 0.999 |
| Log-likelihood | 379.779 | 410.358 | 468.938 |
| F significance probability | 0.000 | 0.000 | 0.000 |
| Hausmann | 75.80§ | 127.17§ | 294.34§ |
| LM | 199.82§ | 126.76§ | 19.22§ |
| AIC | −3.003 | −3.287 | −3.832 |
| Preferred model | Two-way FE | Two-way FE | Two-way FE |
Dependent variable: log(AL); *10% s.l.; †5% s.l.; ‡1% s.l.; §0.1% s.l. s.l., significance level.