Table 3.
Endogeneity and robustness tests.
| Variables | GVCPs | |||||
|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | |
| L. AI | 0.0056∗∗∗ (2.4843) | 0.0040∗ (1.9175) | 0.0054∗∗ (2.4337) | |||
| AI_C | 0.0038∗∗∗ (3.0002) | 0.0035∗∗∗ (2.7348) | 0.0036∗∗∗ (2.7839) | |||
| HC | 0.0476∗∗∗ (3.3213) | 0.0515∗∗∗ (3.3483) | 0.0409∗∗∗ (3.3193) | 0.0413∗∗∗ (3.0634) | ||
| IPP | 0.0370∗∗ (2.3013) | 0.0366∗ (1.6759) | 0.0254 (1.5833) | 0.0136 (0.6339) | ||
| Infra | −0.0222 (−1.0783) | 0.0141 (0.4773) | −0.0185 (−0.8764) | 0.0045 (0.1515) | ||
| GDPP | 0.0127 (1.1036) | 0.0172 (1.3639) | 0.0059 (0.5418) | 0.0159 (1.3031) | ||
| FDI | 0.0002 (1.0684) | 0.0001 (0.6267) | −0.0001 (−0.0645) | −0.0001 (−0.3152) | ||
| Constants | 1.0006∗∗∗ (320.6268) | 0.6616∗∗∗ (5.6632) | 0.5425∗∗∗ (4.1987) | 0.9761∗∗∗ (92.5578) | 0.7453∗∗∗ (7.2430) | 0.6263∗∗∗ (5.1775) |
| Individual fixed effect | Yes | Yes | Yes | Yes | Yes | Yes |
| Time fixed effect | Yes | No | Yes | Yes | No | Yes |
| R-squared | 0.9610 | 0.9624 | 0.9630 | 0.9547 | 0.9556 | 0.9562 |
| N | 448 | 448 | 448 | 504 | 504 | 504 |
Robust t-statistics in parentheses, ∗∗∗p < 0.01, ∗∗p < 0.05, ∗p < 0.1.