(1)

GIE

(2)

GIE

DE

−3.642***

−3.723***

(0.917)

(0.791)

DE2

5.633***

5.750***

(1.652)

(1.426)

IS

0.082

(0.135)

G

0.008

(0.255)

FDI

4.363*

(2.350)

MAR

0.025

(0.024)

_cons

0.824***

0.358

(0.080)

(2.887)

N

300.000

300.000

r2

0.779

0.787

id

Yes

Yes

year

Yes

Yes