Table 2 Estimates in the regions, 2004–2014

Constant

0.46

5.90***

0.24

–

ln Y_t−1

–

–

0.77***

0.20***

ln K

0.41***

0.70***

0.07**

0.52***

ln L

0.62***

0.09**

0.16***

0.09**

R ²

0.95

0.71

–

–

Hausman test

–

45.52

–

–

p value

–

(0.0000)

–

–

Wald test

1756.87

102.25

13,726.09

200.49

Prob > chi2

(0.0000)

(0.0000)

(0.000)

(0.000)

Hansen test

–

–

12.57

14.42

Prob > chi2

–

–

(0.322)

(0.155)

No. of instruments

–

–

15

13

AR(1)

–

–

− 2.63

− 2.59

Prob > z

–

–

(0.009)

(0.009)

AR(2)

–

–

− 0.48

− 1.55

Prob > z

–

–

(0.634)

(0.121)

Observations

165

165

120

120