. xtdpdsys cr ife gr lne fd soe edu ,twostep
System dynamic panel-data estimation Number of obs = 279
Group variable: id Number of groups = 31
Time variable: year
Obs per group: min = 9
avg = 9
max = 9
Number of instruments = 51 Wald chi2(7) = 37088.69
Prob > chi2 = 0.0000
Two-step results
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cr | Coef. Std. Err. z P>|z| [95% Conf. Interval]
-------------+----------------------------------------------------------------
cr |
L1. | .6380208 .0153226 41.64 0.000 .607989 .6680526
|
ife | .8111972 .1564166 5.19 0.000 .5046263 1.117768
gr | -.6771569 .0304559 -22.23 0.000 -.7368494 -.6174644
lne | -.8893739 .6901962 -1.29 0.198 -2.242134 .4633857
fd | -.106047 .0132704 -7.99 0.000 -.1320564 -.0800375
soe | .1217657 .0426704 2.85 0.004 .0381331 .2053982
edu | 1.340468 .1173147 11.43 0.000 1.110536 1.570401
_cons | .6344774 .222379 2.85 0.004 .1986225 1.070332
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Warning: gmm two-step standard errors are biased; robust standard
errors are recommended.
Instruments for differenced equation
GMM-type: L(2/.).cr
Standard: D.ife D.gr D.lne D.fd D.soe D.edu
Instruments for level equation
GMM-type: LD.cr
Standard: _cons