Variable

Model 1

Model 2

Model 3

Pr

1.423^***

1.481^***

(5.078)

(4.933)

Id

−0.155^**

−0.071^**

(−2.265)

(−2.345)

Ore

5.243^***

5.241^***

5.133^***

(5.741)

(5.434)

(5.484)

Pat

0.255^***

0.404^***

0.26^***

(2.687)

(4.312)

(2.725)

Gdp

1.373^***

1.576^***

1.372^***

(9.442)

(10.953)

(9.431)

Control Variables

Mob

3.546^***

0.371^**

0.500^***

(9.167)

(2.256)

(3.095)

Op

3.546^***

3.492^***

3.48^***

(9.167)

(8.357)

(8.586)

Dis

−1.698^***

−1.425^***

−1.707^***

(−6.005)

(−4.979)

(−6.02)

Exch

0.113^**

0.168^***

0.112^***

(2.535)

(3.774)

(2.514)

Inf

5.841^***

6.768^***

6.286^***

(2.842)

(2.97)

(2.84)

Reg

0.581^***

0.382^***

0.578^***

(5.254)

(3.587)

(5.215)

R²

0.491

0.458

0.491

Adjusted R²

0.477

0.443

0.476

N

384

384

384