Integration, Regional Specialization and Growth Differentials in EU Acceding Countries: Evidence from Hungary

Y

lnSPEC

AGRIC

SERV

lnFDI

OPEN

BORDEU

Y_____

1.0000

lnSPEC

0.1302

1.0000

AGRIC

-0.2982

0.4015

1.0000

SERV

-0.0888

-0.3693

-0.4839

1.0000

lnFDI

0.3596

-0.0700

-0.3526

0.2113

1.0000

OPEN

0.3189

0.3739

-0.0409

-0.3771

0.2384

1.0000

(1)

(2)

(3)

(4)

(5)

(6)

LnFDI

0.0177***
(0.0054)

0.0165***
(0.0055)

0.0163***
(0.0057)

0.0165***
(0.0048)

0.0386
(0.0210)

0.0036
(0.0284)

LnSPEC

0.0548**
(0.0277)

0.0477

(0.0289)

0.0475
(0.0304)

0.0474*

(0.0263)

0.0798
(0.0592)

0.0767

(0.0550)

AGRIC

-0.5239***
(0.1324)

-0.4920***
(0.1298)

-0.4911***
(0.1353)

-0.4686***
(0.1219)

-1.2243**
(0.5847

-0.5511

(0.6574)

SERV

-0.1402***
(0.0477)

-0.1212**
(0.0473)

-0.1199**
(0.0544)

-0.1287***
(0.0441)

0.0000
(0.1397)

-0.0411

(0.1121)

OPEN

0.0215
(0.0257)

0.0204
(0.0290)

0.0122
(0.0258)

-0.0507

(0.0755)

-0.0827

(0.0708)

BORDEU

0.0014
(0.0182)

Time
fixed
effects______

No

No

No

Yes

No

Yes

Regional
fixed
effects______

No

No

No

No

Yes

Yes

Constant

0.2233***
(0.0629)

0.1913***
(0.0684)

0.1906**
(0.0740)

R²

0.2787

0.2828

0.2829

0.4425

0.3511

0.5046

adj. R²

0.2536

0.2514

0.2448

0.3913

0.1872

0.3450

N______

120

120

120

120

120

120

F

F(6,109)
=7.98***

F(19,95)
= 0.69

F(5,90)
=6.40***
F(19,90)
=0.78