Variable | GSPRE random effects | SAC fixed effects | SEM | SAR | SDM | |||
---|---|---|---|---|---|---|---|---|
Fixed effects | Random effects | Fixed effects | Random effects | Fixed effects | Random effects | |||
Constant | 0.13** (2.29) | 0.13** (2.05) | 0.03 (0.53) | − 0.03 (− 0.52) | ||||
LNGDP(t−1) | − 0.02*** (− 4.15) | − 0.09*** (− 6.87) | − 0.09*** (− 7.17) | − 0.02*** (− 4.09) | − 0.04*** (− 3.50) | − 0.004 (− 1.02) | − 0.10*** (− 7.25) | − 0.02*** (− 2.78) |
LN capital | 0.003 (1.45) | 0.04*** (5.79) | 0.04*** (5.94) | 0.004 (1.54) | 0.02*** (3.31) | 0.0008 (0.32) | 0.04*** (5.03) | 0.01*** (2.93) |
(N + 0.05) | − 0.007*** (− 7.16) | − 0.008*** (− 8.11) | − 0.008*** (− 8.30) | − 0.007*** (6.65) | − 0.006*** (− 5.81) | − 0.005*** (− 5.18) | − 0.009*** (− 8.88) | − 0.008*** (− 7.55) |
LNGDP(t−1)* W | 0.03*** (6.58) | 0.003** (2.35) | ||||||
Capital* W | − 0.007*** (− 3.46) | − 0.003*** (− 2.76) | ||||||
(N + 0.05)* W | 0.003*** (7.73) | 0.003*** (6.23) | ||||||
ρ | − 0.03 (− 0.70) | 0.27*** (61.15) | 0.27*** (60.13) | 0.27*** (58.54) | 0.27*** (58.55) | |||
λ | 0.08*** (6.64) | 0.09*** (4.01) | 0.08*** (6.44) | 0.08*** (6.65) | ||||
\(\emptyset\) | − 0.21 (− 0.96) | |||||||
LNL | 943.59 | 987.61 | 987.35 | 942.81 | 836.53 | 799.21 | 882.23 | 828.73 |