Table 7.
Estimated results for the demand side
| EFP | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| l. EFP |
− 0.1965*** [0.020] |
− 0.2076*** [0.021] |
− 0.2167*** [0.023] |
− 0.2092*** [0.023] |
− 0.2227*** [0.024] |
− 0.2532*** [0.026] |
| GDP |
0.0230*** [0.004] |
0.0277*** [0.005] |
0.0333*** [0.010] |
0.0258** [0.010] |
0.0202* [0.011] |
0.0301* [0.015] |
| GDP2 |
− 0.0012 [0.135] |
− 0.0041 [0.003] |
− 0.0033 [0.004] |
− 0.0030 [0.004] |
− 0.0049 [0.005] |
|
| GDP3 |
0.0003 [0.001] |
0.0003 [0.001] |
0.0006 [0.001] |
0.0007 [0.001] |
||
| DINV |
− 0.0019 [0.007] |
− 0.0054 [0.008] |
− 0.0078 [0.008] |
|||
| FDI |
0.0040 [0.006] |
0.0051 [0.006] |
||||
| POP |
− 0.3796* [0.149] |
|||||
| cons |
0.1021*** [0.017] |
0.1026*** [0.018] |
0.0997*** [0.018] |
0.0936*** [0.017] |
0.1041*** [0.023] |
0.1261*** [0.029] |
| obs | 2180 | 2180 | 2180 | 2180 | 2180 | 2180 |
| F-statistics |
2.16 (0.00) |
1.86 (0.00) |
1.60 (0.00) |
1.59 (0.00) |
1.54 (0.00) |
1.54 (0.00) |
| Rsqur | 0.72 | 0.68 | 0.65 | 0.60 | 0.55 | 0.49 |
| CD-stats |
14.90 (0.000) |
14.00 (0.000) |
13.08 (0.000) |
12.33 (0.000) |
11.79 (0.000) |
11.92 (0.000) |
***1%, **5%, and *10%—significant levels. P-values are enclosed in parentheses. Standard errors are enclosed in square brackets