Table 9.
lnIM models with GNIc groups (p values in parentheses)
| Group 1 N = 77, T = 18 |
FE1 | FE1W/TR | LD2,3IV | KR5PRE |
|---|---|---|---|---|
| C |
0.458 (0.004) |
0.098 (0.001) |
– |
− 0.004 (0.049) |
| lnIM−1 |
0.970 (0.000) |
1.610 (0.000) |
0.980 (0.000) |
0.819 (0.000) |
| lnIM−2 |
0.0134 (0.946) |
− 0.612 (0.000) |
– | – |
| lnHE_priv |
− 0.002 (0.591) |
− 0.0005 (0.247) |
0.007 (0.014) |
− 0.026 (0.247) |
| lnHE_pub |
− 0.001 (0.401) |
0.0004 (0.090) |
− 0.001 (0.767) |
− 0.007 (0.415) |
| lnPCR |
− 0.018 (0.0016) |
− 0.0019 (0.087) |
v0.088 (0.092) |
− 0.003 (0.415) |
| lnFS |
− 0.045 (0.009) |
− 0.004 (0.040) |
− 0.043 (0.069) |
− 0.431 (0.122) |
| DW value | 2.14 | 2.53 | – | – |
| Group 2 N = 118, T = 18 |
FE1 | FE1W/TR | LD2,4IV | KR6PRE |
|---|---|---|---|---|
| C |
− 0.044 (0.487) |
0.013 (0.584) |
– |
− 0.002 (0.034) |
| lnIM−1 |
1.397 (0.000) |
1.615 (0.000) |
0.986 (0.000) |
0.889 (0.000) |
| lnIM−2 |
− 0.417 (0.000) |
− 0.635 (0.000) |
– | – |
| lnHE_priv |
0.0001 (0.927) |
− 0.0008 (0.105) |
0.001 (0.878) |
− 0.002 (0.834) |
| lnHE_pub |
− 0.006 (0.0005) |
− 0.0007 (0.352) |
− 0.009 (0.063) |
− 0.019 (0.045) |
| lnPCR |
− 0.010 (0.073) |
0.0014 (0.381) |
− 0.035 (0.081) |
0.001 (0.885) |
| lnFS |
0.019 (0.018) |
0.004 (0.201) |
0.059 (0.035) |
0.026 (0.055) |
| DW value | 2.42 | 2.43 | – | – |
1SEs calculated with White’s cross-section method
2SEs adjusted for cross-section clusters
3Instruments: lnIM(− 6), lnHE_priv(− 5), lnHE_pub(− 5), lnPCR(− 5), lnFS(− 5), res(− 1 to − 4). Model includes a trend
4Instruments: lnIM(− 16), lnHE_priv(− 15), lnHE_pub(− 15), lnPCR(− 15), lnFS(− 15), res(− 1 to − 14). Model includes a trend
5Instruments: lnIM(− 2), lnHE_priv(− 1 to − 2), lnHE_pub(− 1 to − 2), lnPCR, lnRDE, constant, (difference model)
6Instruments: lnIM(− 2), lnHE_priv(− 1 to − 2), lnHE_pub(− 1 to − 2), lnPCR, lnRDE, constant, (difference model)