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Table 2

Regression results

Explanatory variables	Parameter estimates	T-Statistics	P-value
LnED	0.00024***	−4.554	0.0001
LnWE	−0.1042***	4.213	0.0000
LnISF	−0.3311***	−0.501	0.0032
LnISS	−0.0951***	−6.124	0.0002
LnIWA	−0.2433***	−5.554	0.0311
LnIWI	−0.2124***	−3.325	0.0041
LnIWL	−0.0233***	−6.123	0.0133
LnIWE	−0.0329***	−3.113	0.0020
LnTECH	0.3422***	8.324	0.0021

Explanatory variables	Parameter estimates	T-Statistics	P-value
LnED	0.00024***	−4.554	0.0001
LnWE	−0.1042***	4.213	0.0000
LnISF	−0.3311***	−0.501	0.0032
LnISS	−0.0951***	−6.124	0.0002
LnIWA	−0.2433***	−5.554	0.0311
LnIWI	−0.2124***	−3.325	0.0041
LnIWL	−0.0233***	−6.123	0.0133
LnIWE	−0.0329***	−3.113	0.0020
LnTECH	0.3422***	8.324	0.0021

Note: *** significant at the 1% level.