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The results of panel FMOLS and DOLS estimation.
| Method | Panel FMOLS | Panel DOLS |
|---|---|---|
| LNENG | 0.435∗∗∗ (0.045) | 0.359∗∗∗ (0.068) |
| LNTRA | 0.091∗∗∗ (0.024) | 0.401∗∗∗ (0.032) |
| LNCAP | 0.129∗∗∗ (0.016) | 0.083∗∗∗ (0.030) |
| LNLAB | 0.126 (0.081) | -0.339 (0.079) |
| LNFDI | 0.010∗∗ (0.004) | 0.002∗∗∗ (0.009) |
| LNHCI | -0.775∗∗∗ (0.225) | 0.374∗∗ (0.157) |
Note: ∗∗∗ and ∗∗ indicate significance level at 1% and 5%, respectively. Figures in the parentheses show standard error.
