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Journal of Economic Structures

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

Table 4 System-GMM estimation, with income level dummy—dependent variable: LN OUTSHARE

From: Does innovative capacity affect the deindustrialization process? A panel data analysis

Regressors

Model 1

Model 2

Model 3

Model 4

Model 5

Model 6

Model 7

Model 8

Model 9

Model 10

BASELINE

R&D

RESEARCHERS

TECHNICIANS

ARTICLE

PATENTS

TRADEMARK

INCENG

INDOUT

INES

LN_OUTSHARE(-1)

0.855405***

0.566266***

0.634217***

0.467733***

0.471676***

0.649066***

0.696242***

0.590670***

0.594404***

0.682809***

 

(0.008559)

(0.034082)

(0.022840)

(0.070501)

(0.034056)

(0.014487)

(0.008262)

(0.047051)

0.037235

(0.020353)

LN Y

0.290860***

1.740323***

1.954791***

2.670687***

1.676604***

1.240666***

0.201220**

2.114770***

1.422408**

0.783845***

 

(0.042533)

(0.382062)

(0.418238)

(0.744080)

(0.519989)

(0.206066)

(0.078359)

(0.422189)

0.644003

(0.282609)

(LN_Y)2

− 0.019428***

− 0.104182***

− 0.109272***

− 0.148958***

− 0.096779***

− 0.071371***

− 0.014149***

− 0.116315***

− 0.089770***

− 0.047731***

 

(0.002538)

(0.020447)

(0.022740)

(0.039650)

(0.028890)

(0.0105920

(0.004430)

(0.022812)

0.034681

(0.015420)

LN RELPRICE

0.151979***

0.136632**

0.373361***

0.428845***

0.788973***

0.269373***

0.397079***

0.312171**

0.349521***

0.348164***

 

(0.011588)

(0.066273)

(0.042380)

(0.141016)

(0.059785)

(0.034264)

(0.011528)

(0.121480)

0.053110

(0.023467)

FIXCAP

0.001440***

0.005626***

0.006935***

0.008805**

0.005227***

0.001362*

0.001443***

0.007417***

0.006139***

0.007082***

 

(0.000399)

(0.002013)

(0.001532)

(0.004064)

(0.001208)

(0.000825)

(0.000429)

(0.002284)

0.001555

(0.000881)

TRADEBAL

0.002210***

0.005980***

0.006714***

0.006725**

0.002823***

0.004032***

0.001600***

0.007259***

0.003407**

0.006424***

 

(0.000320)

(0.001010)

(0.001249)

(0.002600)

(0.000627)

(0.000611)

(0.000162)

(0.001144)

0.001465

(0.000366)

RIR

− 0.001655***

− 0.004311***

− 0.001809**

− 0.008437***

− 0.006358***

− 0.003740***

− 0.003774***

− 0.002895**

− 0.004264***

− 0.001664***

 

(0.000244)

(0.001185)

(0.000724)

(0.002305)

(0.000817)

(0.000430)

(0.000187)

(0.001156)

0.001152

(0.000446)

RER

0.000756***

0.000901**

0.000640*

0.001878***

0.001073***

0.000247**

0.000447***

0.001424***

0.000805***

0.000639**

 

(0.000101)

(0.000449)

(0.000330)

(0.000598)

(0.000288)

(0.000125)

(6.99E−05)

(0.000402)

0.000205

(0.000252)

INNOV*L_INCOME

 

0.100067**

0.003598*

0.012357***

0.000135***

2.27E−05**

4.30E−06**

0.006854***

0.053362*

0.002109**

  

(0.050083)

(0.002022)

(0.003719)

(4.35E−05)

(1.14E−05)

(2.03E−06)

(0.002312)

0.029373

(0.001023)

INNOV*M_INCOME

 

0.077496**

2.43E−05*

0.000136*

5.23E−07***

4.58E−08*

1.01E−07***

0.007898***

0.059341***

0.001926***

  

(0.038417)

(1.26E−05)

(7.89E−05)

(1.04E−07)

(2.67E−08)

(7.74E−09)

(0.001687)

0.009435

(0.000339)

INNOV*H_INCOME

 

0.047605**

3.42E−05***

0.000172***

1.33E−06**

3.74E−07*

1.66E−07

0.010468***

0.090811***

0.001436***

  

(0.021706)

(1.23E−05)

(5.44E−05)

(5.31E−07)

(2.04E−07)

(2.28E−07)

(0.001639)

0.011944

(0.000347)

Obs

990

462

432

319

468

587

794

403

508

643

Countries

78

52

54

42

64

59

69

52

57

67

Number instruments/number cross-section ratio

0.859

0.904

0.796

0.81

0.75

0.915

0.913

0.788

0.789

0.881

Prob J

0.264783

0.541220

0.248996

0.414820

0.198516

0.241809

0.384835

0.321058

0.254330

0.352379

AR(1)

− 0.508060

− 0.453834

− 0.448195

− 0.362385

− 0.347655

− 0.361133

− 0.438543

− 0.434008

− 0.395548

− 0.460671

P-value

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

0.0000

AR(2)

0.056039

− 0.069650

− 0.040366

− 0.085600

− 0.005624

0.027233

0.013379

0.033342

− 0.001910

0.014842

P-value

0.1315

0.2116

0.4956

0.2545

0.9120

0.5406

0.7059

0.5205

0.9713

0.7211

  1. Information in brackets is the standard error associated with the coefficient
  2. Level of statistical significance: (***) denotes 1%, (**) denotes 5% and (*) denotes 10%
  3. S-GMM: based on Arellano and Bover (1995), two stages and no time dummy. AR (1) and AR (2) tests to verify the presence of first-order and second-order serial correlation in the waste in difference
  4. The number of instruments to the number of cross-section ratio needs to be higher than 1. Although the S-GMM estimates are adherent for samples with short periods and a high number of individuals, the diversity of instruments may generate the overlapping of instruments on the variables used, generating bias in the result (Roodman 2009)
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