Table 7.
Regression results of the country/region heterogeneity tests.
| Risk | Income | Risk*High_income | |||||
|---|---|---|---|---|---|---|---|
| Risk_high | Risk_low | High_income | Upper_middle | Lower_middle | HH | HL | |
| CBECxCovid19 | 0.107 | 0.210*** | 0.174*** | 0.177** | 0.262*** | 0.119 | 0.191*** |
| (0.082) | (0.052) | (0.059) | (0.079) | (0.099) | (0.079) | (0.066) | |
| Month FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Id FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Sector*Month_FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| N | 15,714 | 55,872 | 45,396 | 15,714 | 10,476 | 10,476 | 34,920 |
| R 2 | 0.8081507 | 0.6753944 | 0.6509717 | 0.7979662 | 0.8094717 | 0.8790593 | 0.6703296 |
| Empirical p | 0.000*** | - | 0.030** | ||||
p <1%.
p <5%.