Table 7.

Regression results of the spatial Durbin model.

Variable	Spatial Dubin model
	Coefficient	Standard error	z	[95% confidence interval]
lnpgdp	−0.6591***	0.1849	−3.56	−1.0216	−0.2967
lnfiscal	−0.3021***	0.0964	−3.14	−0.4910	−0.1132
lnurban	−0.1810	0.1740	−1.04	−0.5220	0.1600
lnedu	−0.0374	0.0414	−0.90	−0.1185	0.0437
lndepend	0.2649***	0.0720	3.68	0.1237	0.4061
W*lnpgdp	1.2023***	0.3293	3.65	0.5570	1.8476
W*lnfiscal	−0.5274***	0.1843	−2.86	−0.8887	−0.1661
W*lnurban	−0.3109	0.3596	−0.86	−1.0158	0.3939
W*lnedu	−0.1084	0.0949	−1.14	−0.2944	0.0776
W*lndepend	0.3732**	0.1449	2.58	0.0893	0.6572
sigma2_e	0.0097***	0.0007	13.55	0.0083	0.0111
Individual effect	Control
Time effect	Control
Observations	372
Log-likelihood	333.7146