(1)

(2)

(3)

(4)

Posek < 0

Posek > 0

Posel < 0

Posel > 0

Digital

−0.495^***

−2.408^***

0.401^**

−0.346^**

(0.173)

(0.715)

(0.179)

(0.159)

urb

0.104

0.727

0.218

2.596

(0.495)

(2.646)

(0.503)

(2.094)

pergdp

−0.123^**

0.255

−0.100

−0.017

(0.055)

(0.380)

(0.083)

(0.132)

open

−0.081

−0.384

0.047

0.133

(0.130)

(0.410)

(0.113)

(0.234)

ind

−0.188^**

−2.251^**

0.127^**

−0.301

(0.077)

(0.958)

(0.058)

(0.235)

_cons

1.301^***

2.409

0.252

−0.595

(0.492)

(4.144)

(0.759)

(2.028)

N

165.000

83.000

154.000

93.000

r2

0.930

0.877

0.962

0.972

r2_a

0.912

0.826

0.953

0.963