Table 5. IV Regressions. Determinants of Publications, Citations, by University Type. Instruments: Math & Physics Federal R&D, Math and Physics non-federal R&D, Fall Enrollment.

	Full sample	Private	Public	non-Research I	Research l
Panel A-Dependent Variable: Number of Publications
L.Federally Funded R&D	0.0190***	0.0587*	0.0223***	0.00884**	0.00510
	(0.00422)	(0.0258)	(0.00466)	(0.00298)	(0.00312)
L.Non-Federally Funded R&D	0.00327	-0.0510	0.00781**	-0.00632	0.00348
	(0.00247)	(0.0272)	(0.00258)	(0.00340)	(0.00218)
L.Full Time Faculty	-0.181	-0.463	-0.315	0.342*	-0.208
	(0.152)	(0.532)	(0.231)	(0.161)	(0.173)
Constant	-7.493	-148.3	-15.78	14.78*	88.22***
	(13.83)	(131.8)	(13.85)	(6.444)	(18.58)
Observations	2933	940	1993	1256	1677
Sargan-Hansen statistics (p-value)	0.675(0.4114)	0.161(0.6882)	0.085(0.771)	30.015(0.000)	0.927(0.3357)
sigma_e	49.82	116.7	52.86	25.70	47.40
sigma_u	63.76	196.9	59.25	42.62	97.35
rho	0.621	0.740	0.557	0.733	0.808
r2_w	0.497	.	0.449	0.488	0.709
r2_b	0.763	0.749	0.790	0.203	0.685
r2_o	0.693	0.612	0.712	0.295	0.511
Panel B-Dependent Variable: Number of Citations
L.Federally Funded R&D	0.260***	0.700*	0.312***	0.150***	0.132**
	(0.0565)	(0.330)	(0.0562)	(0.0403)	(0.0410)
L.Non-Federally Funded R&D	0.00614	-0.747	0.0703*	-0.0700	0.00460
	(0.0358)	(0.387)	(0.0355)	(0.0397)	(0.0338)
L.Full Time Faculty	-0.620	-7.373	-1.167	3.924	-0.661
	(2.233)	(7.181)	(3.400)	(2.046)	(2.500)
Constant	-740.0***	-1791.8	-999.9***	-179.1*	-107.7
	(190.7)	(1731.2)	(184.9)	(71.94)	(269.5)
Observations	2933	940	1993	1256	1677
Sargan-Hansen statistics (p-value)	0.009(0.924)	0.008(0.9295)	0.731(0.393)	19.157(0.000)	1.685(0.194)
sigma_e	686.7	1532.5	705.7	286.9	687.7
sigma_u	674.3	2327.9	705.1	272.8	854.1
rho	0.491	0.698	0.500	0.475	0.607
r2_w	0.271	.	0.191	0.226	0.554
r2_b	0.730	0.658	0.778	0.380	0.633
r2_o	0.621	0.502	0.645	0.350	0.572

Standard errors in parentheses.

* p<0.05,

** p<0.01,

*** p<0.001.