Variable | GSPRE random effects | SAC fixed effects | SEM | SAR | SDM | |||
---|---|---|---|---|---|---|---|---|
Fixed effects | Random effects | Fixed effects | Random effects | Fixed effects | Random effects | |||
Constant | 0.12 (1.85) | 0.11 (1.63) | 0.05 (0.67) | 0.07 (1.10) | ||||
LNGDP(t−1) | − 0.02*** (− 3.57) | − 0.09*** (− 6.56) | − 0.09*** (− 6.81) | − 0.02*** (− 3.31) | − 0.04*** (− 3.59) | − 0.005 (− 1.10) | − 0.09*** (− 6.70) | − 0.02*** (− 2.37) |
LN capital | 0.004*** (1.60) | 0.04*** (5.92) | 0.04*** (6.08) | 0.004* (1.69) | 0.02*** (2.91) | 0.0005 (0.20) | 0.04*** (5.19) | 0.009*** (2.39) |
(N + 0.05) | − 0.007*** (− 7.22) | − 0.009*** (− 8.19) | − 0.008*** (− 8.39) | − 0.007*** (− 7.20) | − 0.005*** (− 5.72) | − 0.005*** (− 5.14) | − 0.009*** (− 9.23) | − 0.008*** (− 8.19) |
LN human capital | − 0.01 (− 0.88) | − 0.02 (− 1.32) | − 0.02 (− 1.25) | − 0.01 (− 1.09) | 0.008 (0.82) | 0.004 (0.46) | − 0.04*** (− 2.01) | − 0.04*** (− 2.18) |
LNGDP(t−1)* W | 0.02*** (6.08) | 0.005** (1.81) | ||||||
Capital *W | − 0.009*** (− 4.11) | − 0.003*** (− 2.76) | ||||||
(N + 0.05)* W | 0.003*** (8.17) | 0.003*** (7.19) | ||||||
LN human capital* W | 0.01*** (2.81) | 0.01*** (3.98) | ||||||
ρ | − 0.04 (− 0.89) | 0.27*** (60.94) | 0.27*** (60.06) | 0.27*** (58.25) | 0.27*** (58.20) | |||
λ | 0.08*** (6.63) | 0.1*** (4.23) | 0.08*** (6.28) | 0.08*** (6.64) | ||||
\(\emptyset\) | − 0.18 (− 0.85) | |||||||
LNL | 943.99 | 988.56 | 988.12 | 943.40 | 836.87 | 799.31 | 886.37 | 838.86 |