Table 11 FMOLS, PCSE, FGLS, RE, and DFE results
Variables | FMOLS | PCSE | FGLS | RE | DFE | |||
|---|---|---|---|---|---|---|---|---|
Dependent variable (LNLEXP) | Dependent variable (LNINFMOR) | |||||||
Model 1A | Model 1B | Model 1A | Model 1B | Model 1A | Model 1B | Model 1C | Model 1D | |
PRUDN | 0.0452*** (0.0005647) | - | -0.0024*** (0.0002788) | - | -0.0023*** (0.0000129) | - | 0.0120*** (0.0009780) | - |
AVRDES | - | 0.0510*** (0.0013406) | - | 0.0013*** (0.0003409) | - | 0.0013*** (0.0000168) | - | -0.0177*** (0.0055162) |
GDPPC | -0.00036*** (0.0000433) | 0.00044*** (0.0000956) | 0.0000089*** (0.0000008) | 0.0000082*** (0.0000008) | 0.0000089*** (0.0000001) | 0.0000083*** (0.0000001) | 0.000053*** (0.0000085) | 0.000092* (0.0000491) |
GOVEXP | 0.2341*** (0.0068580) | -0.2476*** (0.0081426) | -0.0184*** (0.0033015) | -0.0176*** (0.0031635) | -0.0180*** (0.0002090) | -0.0172*** (0.0002151) | -0.0117 (0.0089028) | -0.1371** (0.0592705) |
MNSCHOOL | 0.6685*** (0.0076138) | -0.3046*** (0.0372598) | 0.0175*** (0.0016869) | 0.0200*** (0.0017382) | 0.0175*** (0.0001854) | 0.0200*** (0.0001456) | -0.2669*** (0.0108812) | -0.0427 (0.0821548) |
URBAN | -0.00139*** (0.0001734) | 0.0026*** (0.0003066) | -0.0014*** (0.0001823) | -0.0013*** (0.0001775) | -0.0014*** (0.0000421) | -0.0013*** (0.0000404) | 0.0010* (0.0006106) | 0.0020 (0.0040979) |
_CONS | - | - | 4.0639*** (0.0071382) | 3.8493*** (0.0462690) | 4.0625*** (0.0009768) | 3.8502*** (0.0021131) | 4.8416*** (0.0838447) | 0.1843*** (0.0544606) |
ECM | - | - | - | - | - | - | - | -0.0352*** (0.0080052) |
|  | R2 = 0.71880.7188944 | R2 = 0.4593 | Wald chi2(5) = 1072.48 Prob > chi2 = 0.0000 R2 = 0.2165 | Wald chi2(5) = 1019.33 Prob > chi2 = 0.0000 R2 = 0.1896 | Waldchi2(5) = 52,866.78Prob > chi2 = 0.0000 | Wald chi2(5) = 124,327.41Prob > chi2 = 0.0000 | sigma_u = 0.3413 sigma_e = 0.1075 Wald chi2(5) = 1078.43 Prob > chi2 = 0.0000 |  |