Table 7.
Results from the distributed lag model
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | |
|---|---|---|---|---|---|---|---|
| VARIABLES | EIB Loan Dummy | ||||||
| First year in office in t − 4 | 0.0353 | 0.0490 | 0.0441 | 0.0336 | 0.1377** | 0.1674* | -0.0094 |
| (0.0251) | (0.0346) | (0.0382) | (0.0386) | (0.0626) | (0.0863) | (0.0516) | |
| First year in office in t − 3 | -0.0404 | -0.0570 | -0.1006** | 0.0105 | 0.0236 | 0.0258 | 0.0012 |
| (0.0282) | (0.0376) | (0.0442) | (0.0462) | (0.0891) | (0.0704) | (0.0961) | |
| First year in office in t − 2 | -0.0373 | -0.0203 | -0.0053 | 0.0103 | 0.1575 | 0.0636 | 0.1113 |
| (0.0262) | (0.0481) | (0.0357) | (0.0771) | (0.1105) | (0.0783) | (0.0768) | |
| First year in office in t − 1 | 0.0302 | 0.0638 | 0.0744 | 0.0450 | 0.1406 | 0.1297 | 0.1008 |
| (0.0334) | (0.0533) | (0.0567) | (0.0674) | (0.0897) | (0.0933) | (0.0798) | |
| First year in office | 0.1234 | 0.1266 | 0,1506 | -0.0487 | 0.2400** | 0.1015 | -0.1615 |
| (0.0879) | (0.1100) | (0.1341) | (0.0822) | (0.1046) | (0.1227) | (0.1313) | |
| Second year in office | 0.2157** | 0.1979** | 0.2231** | 0.0088 | 0.2894** | 0.2126** | -0.0957 |
| (0.0778) | (0.0834) | (0.0990) | (0.0694) | (0.1261) | (0.0964) | (0.1090) | |
| Third year in office | 0.2584*** | 0.2717*** | 0.3025*** | -0.0020 | 0.2845*** | 0.1890** | 0.1034 |
| (0.0591) | (0.0761) | (0.0749) | (0.0895) | (0.1072) | (0.0884) | (0.1982) | |
| Fourth year or more in office | 0.1529** | 0.1355* | 0.0482 | 0.1033 | 0.1977** | 0.1227* | 0.1378 |
| (0.0619) | (0.0737) | (0.0595) | (0.0752) | (0.0929) | (0.0741) | (0.0948) | |
| Last year in office in t + 1 | -0.0047 | 0.0683 | 0.0182 | 0.1229* | 0.2777*** | 0.0659 | 0.1333 |
| (0.0423) | (0.0540) | (0.0758) | (0.0632) | (0.0873) | (0.0941) | (0.2002) | |
| Last year in office in t + 2 | -0.0581 | 0.0210 | -0.0701 | 0.1336** | 0.2436* | 0.0065 | 0.0918 |
| (0.0458) | (0.0581) | (0.0854) | (0.0560) | (0.1306) | (0.0830) | (0.1934) | |
| Last year in office in t + 3 | -0.0249 | 0.0166 | 0.0095 | 0.0691 | 0.0937 | 0.0194 | 0.2014** |
| (0.0538) | (0.0637) | (0.0767) | (0.0676) | (0.1029) | (0.0550) | (0.0881) | |
| Last year in office in t + 4 | 0.0120 | 0.0624 | 0.0292 | 0.0737 | 0.1261* | -0.0543 | 0.1919 |
| (0.0387) | (0.0431) | (0.0708) | (0.0529) | (0.0693) | (0.0939) | (0.1549) | |
| Sample | Full and Alternate | Full | Alternate | MC | old regions | post regions | |
| Observations | 14,210 | 5,844 | 5,844 | 5,844 | 5,844 | 4,788 | 4,788 |
| R-squared | 0.3632 | 0.2563 | 0.2562 | 0.2535 | 0.2559 | 0.2200 | 0.2197 |
| Number of regions | 290 | 266 | 266 | 266 | 266 | 266 | 266 |
| Mean of the dependent variable | .25 | .41 | .41 | .41 | .41 | .42 | .42 |
*** p < 0.01, ** p < 0.05, * p < 0.1. The table presents results for the estimation of the model in Eq. 2. Standard errors are in parentheses and clustered on the level of NUTS 2 regions. The sample start year is 1990 for all regressions except column 1, where it is 1959. Control variables, region fixed effects, and country-year fixed effects are included in all regressions