Table 2.

System GMM estimates for broadband availability.

	25/3 - All (1)		Fiber - All (2)		2+ Competitors (3)
	Coeff.	S.E.	Coeff.	S.E.	Coeff.	S.E.
Lag (availability)	0.433	0.013***	0.755	0.023***	0.574	0.027***
% Bachelor's Degree or More	0.141	0.031***	0.204	0.023***	0.139	0.028***
% Poverty	−0.351	0.065***	−0.128	0.042***	−0.068	0.039*
% Housing after 2010	−0.320	0.106***	0.496	0.092***	0.358	0.124***
ln(Median Household Income)	−0.008	0.020	−0.016	0.013	0.062	0.013***
ln(Population Density)	0.032	0.002***	0.000	0.001	0.020	0.002***
Rural % of Population	−0.112	0.009***	0.015	0.005**	−0.093	0.008***
Topography	0.000	0.001	−0.001	0.000	0.000	0.000
Year F.E.	Yes		Yes		Yes
Policy Variables
State funds	0.012	0.006*	0.020	0.005***	0.001	0.005
State office	−0.003	0.006	0.009	0.006	0.016	0.006**
Municipal restrictions	−0.031	0.009***	−0.022	0.008***	−0.018	0.008**
Constant	0.542	0.220**	0.231	0.145	0.170	0.140
Wald Chi Squared	14,568***		5,705***		18,455***
# Instruments	54		55		61
# Groups	3,140		3,140		3,140
Hansen J-test	0.261		0.332		0.258
AR(1)	0.000***		0.000***		0.000***
AR(2)	0.336		0.231		0.150
# Observations	18,833		18,833		18,833

*, **, and *** represent statistical significance at the p < .10, .05, and 0.01 levels, respectively.

Hansen J-test represents p-values for the null hypothesis of valid instruments (overidentification).

AR(1) and AR(2) represent p-values for null hypotheses of no 1st and 2nd-order autocorrelation.