Table 7.

Estimated results of spatial econometric models.

Variable	Spatial and Time Fixed SDM	Spatial and Time Fixed SAR	Spatial and Time Fixed SEM
lnWL	0.071 *** (2.774)	0.067 *** (2.675)	0.059 ** (2.498)
lnL	0.014 ** (2.535)	0.013 ** (2.014)	0.009 (1.192)
lnInv	0.047 *** (3.232)	0.050 *** (3.159)	0.043 ** (2.593)
lnOpen	0.006 (0.850)	0.008 (0.788)	0.012 (1.430)
lnGov	0.019 (1.458)	0.016 (1.262)	0.019 (1.304)
W * lnWL	−0.014 (−0.639)
W * lnL	0.004 (0.491)
W * lnInv	0.012 (0.703)
W * lnOpen	−0.024 (−1.397)
W * lnGov	0.022 (1.014)
$\rho$/$\lambda$	0.798 *** (16.163)	0.797 *** (12.391)	0.886 *** (21.480)
$\mathrm{Adj}{R}^2$	0.668	0.629	0.402
Log-likelihood	755.181	748.307	736.756
Wald and LR test	Estimated Value	p value
Wald_spatial_lag	12.230 **	0.014
LR_ spatial_lag	13.756 **	0.017
Wald_spatial_error	40.549 ***	0.000
LR_spatial_error	37.064 ***	0.000

Note: the table is calculated by Stata12.0, ***, **, * represent 1%, 5%, 10% levels of significance, respectively, with Z values shown within the brackets. The results retain three decimal places.