Table 5.
The effect of tobacco price on the prevalence of smoking
| Model 1 | Model 2 | Model 3 | |
|---|---|---|---|
| L.Smoking | 1.30*** | 1.31*** | 1.38*** |
| (0.07) | (0.07) | (0.10) | |
| GDP per cap. | 0.07 | 0.07 | 0.09 |
| (0.05) | (0.05) | (0.08) | |
| Urbanization | 0.28 | 0.31 | 0.39* |
| (0.23) | (0.23) | (0.22) | |
| Price | −0.43*** | − 0.44*** | − 0.52*** |
| (0.10) | (0.11) | (0.14) | |
| Death rate | −0.06 | − 0.02 | |
| (0.24) | (0.16) | ||
| FDI | −0.04 | ||
| (0.03) | |||
| Constant | −3.78** | −3.65* | −4.99** |
| (1.54) | (1.93) | (2.11) | |
| Observations | 144 | 144 | 144 |
| Countries | 24 | 24 | 24 |
| Instruments | 15 | 16 | 17 |
| AR(2) | −0.90 | −0.97 | −0.85 |
| AR(2) p-value | 0.37 | 0.33 | 0.40 |
| Hansen | 4.88 | 4.82 | 2.43 |
| Hansen p-value | 0.43 | 0.44 | 0.79 |
| Wald chi2 | 680.90 | 951.53 | 1253.67 |
| Wald chi2 p-value | 0.00 | 0.00 | 0.00 |
L.Smoking refers to the first lag of smoking prevalence; Death rate and FDI are introduced in Models 2 and 3 to show the robustness of the effect of price; AR (2) refers to second-order serial correlation test; Hansen refers to the test for overidentification; Robust standard errors in parentheses; * p < 0.1, ** p < 0.05, *** p < 0.01; For brevity, year dummies are not reported