>> Demo
Y minus item 6
W obv distance capitals
x var 1-7 + 9-12
Pooled model with spatially lagged dependent variable and spatial fixed effects
Dependent Variable = FL(t)
R-squared = 0.9717
corr-squared = 0.9472
sigma^2 = 27.4475
Nobs,Nvar,#FE = 1860, 14, 75
log-likelihood = -5701.6858
# of iterations = 1
min and max rho = -2.6921, 1.0000
total time in secs = 0.0610
time for optimiz = 0.0050
time for lndet = 0.0330
time for eigs = 0.0040
time for t-stats = 0.0050
No lndet approximation used
***************************************************************
Variable Coefficient Asymptot t-stat z-probability
FL(t-1) 0.867007 72.963389 0.000000
W*FL(t-1) -0.375808 -7.300856 0.000000
BANK -1.202943 -2.652834 0.007982
CUR 0.614292 1.487670 0.136838
DEBT -1.728224 -2.727559 0.006380
RECESSION 0.124071 0.331636 0.740164
HINFL 1.094740 1.854211 0.063709
FIRSTYEAR -0.529715 -1.648534 0.099243
IMF 1.212339 3.493701 0.000476
LEFT 1.433232 3.132294 0.001734
RIGHT 1.039630 2.322631 0.020199
DEMO 0.009924 0.256224 0.797778
GOVFRAC -0.216588 -0.321968 0.747477
W*dep.var. 0.503944 10.088311 0.000000
Pooled model with spatially lagged dependent variable and spatial fixed effects
Dependent Variable = FL(t)
R-squared = 0.9717
corr-squared = 0.9472
sigma^2 = 27.4122
Nobs,Nvar,#FE = 1860, 14, 75
log-likelihood = -5715.5198
# of iterations = 1
min and max rho = -2.6921, 1.0000
total time in secs = 0.0610
time for optimiz = 0.0050
time for lndet = 0.0330
time for eigs = 0.0040
time for t-stats = 0.0050
No lndet approximation used
***************************************************************
Variable Coefficient Asymptot t-stat z-probability
FL(t-1) 0.929406 74.217129 0.000000
W*FL(t-1) -0.440341 -7.341805 0.000000
BANK -1.188889 -2.700773 0.006918
CUR 0.854894 1.512700 0.130356
DEBT -1.539392 -2.770235 0.005602
RECESSION 0.225844 0.338323 0.735120
HINFL 1.486752 1.880960 0.059977
FIRSTYEAR -0.538077 -1.675906 0.093757
IMF 1.172861 3.549420 0.000386
LEFT 1.329938 3.182504 0.001460
RIGHT 0.742772 2.357748 0.018386
DEMO 0.007940 0.257684 0.796651
GOVFRAC 0.023634 -0.327473 0.743310
W*dep.var. 0.506671 10.111459 0.000000
Pooled model with spatially lagged dependent variable, spatial and time period fixed effects
Dependent Variable = FL(t)
R-squared = 0.9722
corr-squared = 0.7818
sigma^2 = 27.3193
Nobs,Nvar,#FE = 1860, 14, 104
log-likelihood = -5618.4984
# of iterations = 1
min and max rho = -2.6921, 1.0000
total time in secs = 0.0690
time for optimiz = 0.0050
time for lndet = 0.0330
time for eigs = 0.0040
time for t-stats = 0.0040
No lndet approximation used
***************************************************************
Variable Coefficient Asymptot t-stat z-probability
FL(t-1) 0.929574 74.148446 0.000000
W*FL(t-1) -0.299077 -3.027907 0.002463
BANK -1.402537 -3.197870 0.001384
CUR 0.844286 1.380428 0.167455
DEBT -1.288910 -2.391998 0.016757
RECESSION 0.185294 0.251401 0.801504
HINFL 1.311980 1.526098 0.126985
FIRSTYEAR -0.515244 -1.582322 0.113576
IMF 1.068982 3.153587 0.001613
LEFT 1.247620 2.888283 0.003874
RIGHT 0.557056 1.866907 0.061915
DEMO 0.001303 0.057312 0.954297
GOVFRAC 0.074496 -0.324822 0.745316
W*dep.var. 0.465012 5.309276 0.000000
ans =
1.0955 3.7241 0.0536
F0 =
0.2058
kansfo =
1.0000
Pooled model with spatially lagged dependent variable and spatial fixed effects
Dependent Variable = FL(t)
R-squared = 0.9500
corr-squared = 0.7824
sigma^2 = 27.3196
Nobs,Nvar,#FE = 1830, 14, 74
log-likelihood = -5443.3807
# of iterations = 1
min and max rho = -2.6921, 1.0000
total time in secs = 0.0570
time for optimiz = 0.0050
time for lndet = 0.0320
time for eigs = 0.0040
time for t-stats = 0.0040
No lndet approximation used
***************************************************************
Variable Coefficient Asymptot t-stat z-probability
FL(t-1) 0.929569 74.101988 0.000000
W*FL(t-1) -0.301499 -2.148094 0.031706
BANK -1.401978 -3.195879 0.001394
CUR 0.844706 1.381018 0.167274
DEBT -1.287285 -2.389396 0.016876
RECESSION 0.185391 0.251685 0.801285
HINFL 1.310942 1.523958 0.127519
FIRSTYEAR -0.515248 -1.582349 0.113570
IMF 1.068663 3.151987 0.001622
LEFT 1.247446 2.887446 0.003884
RIGHT 0.556773 1.865896 0.062056
DEMO 0.001221 0.055612 0.955651
GOVFRAC 0.074808 -0.324436 0.745608
W*dep.var. 0.468024 3.411542 0.000646
ans =
1.0961 0.0201 3.7504 0.0528
ans =
-0.3053 -2.2610
-1.4280 -3.1465
0.8452 2.0244
-1.2866 -1.9754
0.1799 0.4823
1.3026 2.1904
-0.5074 -1.5862
1.0755 3.1052
1.2409 2.7450
0.5612 1.2545
-0.0017 -0.0325
0.0796 0.1172
0.4713 3.4913
First effect is convergence effect
ans =
-1.2820 -9.8561 1.4955 5.2611 0.2135 0.8141
-1.4524 -3.1434 -1.4718 -1.2495 -2.9241 -2.0289
0.8598 2.0222 0.8811 1.0919 1.7409 1.5695
-1.3086 -1.9771 -1.3316 -1.1290 -2.6402 -1.6054
0.1833 0.4829 0.2038 0.3736 0.3871 0.4478
1.3248 2.1896 1.3426 1.1204 2.6674 1.6612
-0.5159 -1.5861 -0.5143 -1.0315 -1.0301 -1.3660
1.0939 3.1020 1.1105 1.2164 2.2043 1.9824
1.2621 2.7433 1.2814 1.2674 2.5434 1.9555
0.5708 1.2536 0.5820 0.8182 1.1528 1.0727
-0.0016 -0.0311 0.0020 0.0319 0.0004 0.0038
0.0809 0.1172 0.0791 0.0974 0.1599 0.1106
Dynamic sar model with spatial fixed effects + restriction
Dependent Variable = FL(t)
R-squared = 0.7801
sigma^2 = 27.3176
Nobs,Nvar = 1830, 14
log-likelihood = -5600.4587
corr-squared = 0.7816
min and max rho = -2.6921, 1.0000
total time in secs = 0.0570
time for optimiz = 0.0050
time for lndet = 0.0320
time for eigs = 0.0040
time for t-stats = 0.0040
No lndet approximation used
***************************************************************
Variable Coefficient Asymptot t-stat z-probability
FL(t-1) 0.930420 78.304424 0.000000
W*FL(t-1) -0.374076 -2.883339 0.003935
BANK -1.432949 -3.123143 0.001789
CUR 0.800813 1.922465 0.054547
DEBT -1.377201 -2.101777 0.035573
RECESSION 0.194729 0.511841 0.608763
HINFL 1.267796 2.137037 0.032595
FIRSTYEAR -0.523277 -1.613319 0.106675
IMF 1.039733 2.978203 0.002899
LEFT 1.184915 2.556488 0.010573
RIGHT 0.511191 1.127507 0.259528
DEMO 0.006801 0.175518 0.860673
GOVFRAC 0.066645 0.098794 0.921301
W*dep.var. 0.443656 3.419072 0.000628
ans =
-0.3778 -2.8772
-1.4399 -3.1338
0.7931 1.8896
-1.3591 -2.0983
0.1760 0.4563
1.2781 2.1860
-0.5275 -1.6046
1.0408 2.9629
1.1996 2.4028
0.5176 1.0618
0.0047 0.0948
0.0661 0.0978
0.4440 3.2980
First effect is convergence effect
ans =
-1.3577 -10.7744 1.3577 10.7744 -0.0000 -0.1186
-1.4611 -3.1295 -1.3181 -1.2814 -2.7792 -2.1213
0.8045 1.8915 0.7099 1.1502 1.5144 1.6252
-1.3787 -2.0994 -1.2221 -1.1828 -2.6008 -1.7316
0.1789 0.4567 0.1768 0.3807 0.3557 0.4371
1.2970 2.1860 1.1719 1.2188 2.4689 1.7800
-0.5349 -1.6049 -0.4647 -1.0477 -0.9996 -1.4124
1.0562 2.9601 0.9519 1.3597 2.0081 2.1579
1.2171 2.4016 1.0932 1.2456 2.3103 1.8781
0.5250 1.0621 0.4612 0.8023 0.9861 0.9859
0.0049 0.0970 0.0106 0.1691 0.0155 0.1431
0.0670 0.0977 0.0565 0.0757 0.1235 0.0897