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Panel Data Estimation for LFDI Analysis

The document presents panel data estimation results for the dependent variable LFDI using three methods: OLS, fixed effects, and random effects. The fixed effects model shows a significantly higher adjusted R-squared of 0.726477 compared to OLS's 0.079717, indicating better explanatory power. Key variables such as LGDP, LTAXES, LCORRUPT, and LKOF show varying levels of significance across the models.

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Clara Parente
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3 views2 pages

Panel Data Estimation for LFDI Analysis

The document presents panel data estimation results for the dependent variable LFDI using three methods: OLS, fixed effects, and random effects. The fixed effects model shows a significantly higher adjusted R-squared of 0.726477 compared to OLS's 0.079717, indicating better explanatory power. Key variables such as LGDP, LTAXES, LCORRUPT, and LKOF show varying levels of significance across the models.

Uploaded by

Clara Parente
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

PANEL DATA ESTIMATION

=====================

Balanced data: NI= 18, T= 7, NOB= 126

TOTAL (plain OLS) Estimates:

Dependent variable: LFDI

Mean of dep. var. = 3.79163 Adjusted R-squared = .079717


Std. dev. of dep. var. = 1.02282 LM het. test = 1.01495 [.314]
Sum of squared residuals = 114.570 Durbin-Watson = .526106 [.000,.000]
Variance of residuals = .962772 Schwarz B.I.C. = 189.722
Std. error of regression = .981209 Log likelihood = -172.795
R-squared = .123890

Estimated Standard
Variable Coefficient Error t-statistic P-value
LGDP -276.504 209.325 -1.32093 [.189]
LTAXES -2.26708 1.22282 -1.85397 [.066]
LINF -.800366 .753787 -1.06179 [.290]
LW 212.230 162.200 1.30845 [.193]
LCORRUPT -152.862 115.007 -1.32916 [.186]
LKOF 36.3779 16.4128 2.21644 [.029]
C -158.500 124.760 -1.27044 [.206]
Standard Errors are heteroskedastic-consistent (HCTYPE=1).

WITHIN (fixed effects) Estimates:

Dependent variable: LFDI

Mean of dep. var. = 3.79163 Adjusted R-squared = .726477


Std. dev. of dep. var. = 1.02282 LM het. test = .725957 [.394]
Sum of squared residuals = 29.1874 Durbin-Watson = 2.06513 [.406,.837]
Variance of residuals = .286151 Schwarz B.I.C. = 144.681
Std. error of regression = .534931 Log likelihood = -86.6459
R-squared = .776806

Estimated Standard
Variable Coefficient Error t-statistic P-value
LGDP -276.504 110.056 -2.51239 [.014]
LTAXES -2.26708 .585443 -3.87242 [.000]
LINF -.800366 .406831 -1.96732 [.052]
LW 212.230 85.4395 2.48398 [.015]
LCORRUPT -152.862 59.5960 -2.56496 [.012]
LKOF 36.3779 8.48274 4.28847 [.000]
Standard Errors are heteroskedastic-consistent (HCTYPE=1).

F test of A,B=Ai,B: F(17,102) = 17.552, P-value = [.0000]


Critical F value for diffuse prior (Leamer, p.114) = 5.5222

Variance Components (random effects) Estimates:

VWITH (variance of Uit) = 0.28615


VBET (variance of Ai) = 0.67662
(computed from small sample formula)
THETA (0=WITHIN, 1=TOTAL) = 0.56974E-01

Dependent variable: LFDI

Mean of dep. var. = 3.79163 R-squared = .123890

1
Std. dev. of dep. var. = 1.02282 Adjusted R-squared = .079717
Sum of squared residuals = 114.570 LM het. test = 1.01495 [.314]
Variance of residuals = .962772 Durbin-Watson = .526106 [.000,.000]
Std. error of regression = .981209

Estimated Standard
Variable Coefficient Error t-statistic P-value
LGDP -276.504 123.688 -2.23549 [.025]
LTAXES -2.26708 .639819 -3.54332 [.000]
LINF -.800366 .470880 -1.69973 [.089]
LW 212.230 96.0298 2.21005 [.027]
LCORRUPT -152.862 67.7781 -2.25532 [.024]
LKOF 36.3779 9.93212 3.66266 [.000]
C -158.500 74.8058 -2.11882 [.034]

Hausman test of H0:RE vs. FE: CHISQ(0) = 0.00000, P-value = [1.000]

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