Table 7a.
First difference dynamic estimates – infections.
| Variables | SARS | Avian Flu |
|---|---|---|
| ΔTouristiit−1 | 0.544*** (290.15) | 0.855*** (0.0003) |
| ΔSARSIit | −580.164*** (−965.31) | – |
| ΔAFIit | – | −2573.873 (2124.30) |
| m2 | −0.041 | 0.057 |
| Sargan test (d.f.) | 5.9049(7) P-value = 0.551 | 4.379(4) P-value = 0.357 |
| No. observations | 90 | 246 |
Standard errors are in parentheses; *** denotes significance at the 1% level, Method of estimation: GMM–DIFF by Arellano and Bond (1991) 2-step estimation, Estimates are obtained using instruments to Touristit−2 to Touristit−4.