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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

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Table 3 The determinants of TFP (2SLS method)

From: Innovation, total factor productivity and economic growth in Pakistan: a policy perspective

Description Model 1 Model 2 Model 3 Model 4 Model 5 Model 6
TFP(− 1) 0.91* (− 3.38)      0.93* (3.90)
INF − 0.02* (− 2.62) 0.04*** (− 1.90) − 0.02* (− 2.50) − 0.02*** (− 1.86) − 0.02*** (− 1.70) − 0.02 (− 0.325)
FDI 0.13* (− 3.22) − 0.04 (− 0.83) − 0.03 (− 1.22) − 0.04 (− 0.63) 0.10* (− 4.68)  
TRD   0.04* (5.85)   0.05** (− 2.36)   
LGDP    1.17* (− 2.88)   0.80* (− 5.78) 1.06* (− 9.63)  
PRL      0.01 (− 0.9)  
EDU    0.19*** (− 1.97)   0.12** (− 1.97) 0.30* (− 2.54)
IMM 0.03** (− 1.98)   0.03*** (− 1.97)   0.03* (− 9.63) 0.06 (− 0.24)
LPT       0.05*** (− 1.97)
CONSTANT 0.49 (− 1.59) − 3.53 (− 1.42) 0.48 (− 1.59) − 1.716 (− 2.15) 0.03 (− 0.04) − 0.96 (− 1.19)
Diagnostic tests
R-squared 0.23 0.85 0.3 0.65 0.86 0.3
Adjusted R-squared 0.22 0.83 0.28 0.6 0.77 0.2
JB normality test 2.53 (0.28)      
Breusch–Godfrey LM test 1.68(0.23)      
ARCH test 1.38 (0.82)      
Ramsey reset test t = 0.74 (0.31)      
Durbin–Watson stat 1.78      
  1. Robust t (values) in parentheses; and *, **, *** denote significance level at 1%, 5% and 10% respectively
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