model 1

model 2

model 3

model 4

ip

RE

FE

RE

FE

lnspe

−0.159^***

——

−0.121^*

−0.315^***

lndiv

——

−0.189

−0.157

−0.491

Lnspe ^*lndiv

——

——

——

0.198

lncom

−0.632^***

−0.703^***

−0.637^***

−0.671^***

lnL

−0.014

−0.023

−0.020

0.007

lnk

0.726^***

0.675^***

0.739^***

0.654^***

lnfdi

−0.026

−0.040

−0.018

−0.068

lnedu

−0.412

−0.594

−0.455

−0.434

w_lnspe

−0.403^***

——

−0.317^**

−0.485^**

w_lndiv

——

−0.680^*

−0.216

1.219

w_lnspe ^*lndiv

——

——

−0.499

w_lncom

−0.887^***

−1.146^***

−0.865^***

−1.027^***

w_lnL

0.071

−0.015

0.072

0.039

w_lnk

0.145

0.241^*

0.155

0.182

w_lnfdi

−0.292^**

−0.319^**

−0.272^**

−0.302^**

w_lnedu

−1.680^***

−2.030^***

−1.707^***

−1.627^**

_cons

9.858^***

——

9.758^***

——

rho

−0.187^*

−0.098

−0.191^*

−0.201^*

lgt_theta

−1.420^***

——

−1.350^***

——

sigma2_e

0.037^***

0.034

0.037^***

0.030^***

Hausman

−5.150

13.240^**

−24.020

30.970^***

R²

0.842

0.836

0.842

0.848

Log-likelihood

−1.077

48.313

−0.282

56.474

AIC

34.154

−68.626

36.563

−76.948