Table 2 : Econometric results Dependent variable lit - sample period 1994-2000
Belgium Denmark |
Spain |
Finland |
France |
Germany |
Italy |
The |
Norway |
Sweden |
United | ||
N. of obs. |
2471 |
479 |
2058 |
280 |
7739 |
1239 |
5203 |
913 |
1164 |
1664 |
17957 |
N. of firms |
493 |
225 |
679 |
124 |
2219 |
313 |
1194 |
224 |
410 |
922 |
3749 |
(Ух ) |
0.908*** |
0.679* |
0.643*** |
0.217 |
0.313*** |
0.476* |
0.410*** |
0.768* |
0.153** |
0.449 |
0.871*** |
lit-1 |
(0.211) |
(0.381) |
(0.132) |
(0.237) |
(0.053) |
(0.280) |
(0.074) |
(0.407) |
(0.046) |
(0.153) |
(0.078) |
(У 6) |
-0.708*** |
-0.751* |
-0.625*** |
-0.246 |
-0.318*** |
-0.394 |
-0.411*** |
-0.632 |
-0.127* |
-0.456 |
-0.787*** |
mne ■ lit-1 |
(0.216) |
(0.387) |
(0.133) |
(0.238) |
(0.061) |
(0.286) |
(0.078) |
(0.410) |
(0.074) |
(0.161) |
(0.081) |
(У 4 ) |
-0.533*** |
-0.737*** |
-1.056*** |
-0.416 |
-0.909*** |
-0.881*** |
-0.961*** |
-0.583*** |
-0.751*** |
-0.310* |
-0.459*** |
wit |
(0.114) |
(0.147) |
(0.137) |
(0.307) |
(0.055) |
(0.157) |
(0.117) |
(0.152) |
(0.067) |
(0.161) |
(0.058) |
(У 9 ) |
0.083 |
0.306** |
0.321** |
-0.128 |
0.180** |
0.170 |
0.060 |
0.110 |
0.068 |
-0.7190 |
0.024 |
mne ■ wtt -1 |
(0.122) |
(0.151) |
(0.152) |
(0.275) |
(0.074) |
(0.163) |
(0.120) |
(0.165) |
(0.103) |
(0.175) |
(0.080) |
(У 2 ) |
0.196** |
0.612*** |
0.311*** |
0.496*** |
0.639*** |
0.680*** |
0.596*** |
0.512*** |
0.375*** |
0.511*** |
0.519*** |
Уи |
(0.073) |
(0.081) |
(0.078) |
(0.086) |
(0.040) |
(0.109) |
(0.070) |
(0.119) |
(0.091) |
(0.078) |
(0.046) |
(У 7 ) |
0.135 |
-0.192** |
0.296** |
-0.103 |
-0.065 |
-0.119 |
0.132 |
-0.070 |
0.071 |
0.140 |
0.014 |
mne ■ Уlt -i |
(0.093) |
(0.090) |
(0.095) |
(0.132) |
(0.056) |
(0.135) |
(0.087) |
(0.129) |
(0.111) |
(0.127) |
(0.055) |
(У 3) |
0.215** |
-0.007 |
0.185** |
-0.025 |
0.226*** |
0.196** |
0.320*** |
0.177 |
0.183** |
0.019 |
-0.031 |
rtt |
(0.104) |
(0.190) |
(0.081) |
(0.132) |
(0.039) |
(0.081) |
(0.056) |
(0.138) |
(0.079) |
(0.137) |
(0.037) |
(У 8 ) |
-0.122 |
-0.148 |
-0.035 |
0.097 |
0.002 |
-0.209* |
0.000 |
-0.042 |
-0.238* |
0.098 |
-0.040 |
mne ■ ri, 1 tt —1 |
(0.099) |
(0.160) |
(0.048) |
(0.165) |
(0.026) |
(0.077) |
(0.032) |
(0.138) |
(0.126) |
(0.163) |
(0.033) |
(.7 5 ) |
-0.059*** |
-0.037 |
-0.080 |
0.010 |
-0.031*** |
0.016 |
-0.048** |
-0.019 |
-0.010 |
-0.016 |
-0.021** |
T |
(0.015) |
(0.028) |
(0.117) |
(0.040) |
(0.008) |
(0.024) |
(0.016) |
(0.024) |
(0.050) |
(0.020) |
(0.009) |
(У10) |
0.002 |
0.030 |
0.021** |
0.004 |
0.009** |
-0.041** |
0.021* |
0.004 |
-0.001 |
-0.012 |
0.019*** |
mne ■ T |
(0.009) |
(0.023) |
(0.013) |
(0.016) |
(0.004) |
(0.018) |
(0.012) |
(0.011) |
(0.012) |
(0.019) |
(0.004) |
AR1 |
0.008 |
0.145 |
0.0006 |
0.759 |
0.000 |
0.013 |
0.001 |
0.075 |
0.005 |
0.006 |
0.000 |
AR2 |
0.317 |
0.369 |
0.918 |
0.245 |
0.811 |
0.627 |
0.180 |
0.514 |
0.551 |
0.676 |
0.989 |
Sargan test |
0.330 |
1.000 |
0.484 |
0.960 |
0.150 |
0.089 |
0.330 |
0.067 |
0.880 |
1.000 |
0.030 |
Robust standard errors in parentheses - Time dummies and controls by size and sector included - GMM results are one-step
estimates with heteroskedasticity-consistent standard errors and test statistics - AR1 and AR2 are tests for first order and
second order serial correlation, P-values are reported - Sargan is a test of the overidentifying restrictions for the GMM
estimators, the P-values reported refer to the two-step GMM estimators. *** statistically significant at 99 percent confidence
level; ** statistically significant at 95 percent confidence level; * statistically significant at 90 percent confidence level
11
More intriguing information
1. Importing Feminist Criticism2. The name is absent
3. GROWTH, UNEMPLOYMENT AND THE WAGE SETTING PROCESS.
4. Smith and Rawls Share a Room
5. Cross-Country Evidence on the Link between the Level of Infrastructure and Capital Inflows
6. Migrating Football Players, Transfer Fees and Migration Controls
7. The East Asian banking sector—overweight?
8. The name is absent
9. The name is absent
10. On the origin of the cumulative semantic inhibition effect