Table 2 Results of the spatial regression models; P-values are shown in brackets

Estimation

OLS

Spatial Lag

Spatial Error

OLS

Spatial Lag

Spatial Error

12.500

16.911

12.503

8.127

12.63

8.242

Constant

(0.0001)

(0.0001)

(0.0001)

(0.0001)

(0.0001)

(0.0001)

0.08

0.156

0.175

0.07

0.161

0.174

R ²

(0.02)

*

*

(0.03)

*

*

-0.00129

-0.0013

-0.0013

1.858

2.031

1.806

β

(0.02)

(0.01)

(0.006)

(0.03)

(0.011)

(0.007)

δ² (Sigma-square)

44.57

39.500

38.640

45.00

39.317

38.688

-0.468

-0.481

λ (lambda)

*

*

(0.05)

*

*

(0.043)

0.409

-0.443

ρ (rho)

*

(0.08)

*

*

(0.057)

*

Log Likelihood

-224.57

-222.311

221.780

-224.906

-222.286

-221.888

Akaike Inf. Criterion

453.15

450.622

447.561

453.812

450.572

447.776

Schwarz Criterion

457.59

457.28

452.000

458.252

457.231

452.215

4.526

5.58604

5.24

6.036

Likelihood Ratio test

*

(0.034)

(0.02)

*

(0.022)

(0.014)

3.581

4.00

LM lag

*

(0.06)

*

*

(0.045)

*

0.136

0.127

Robust LM lag

*

(0.71)

*

*

(0.721)

*

4.049

4.543

LM error

*

*

(0.04)

*

*

(0.033)

0.604

0.669

Robust LM error

*

*

(0.44)

*

*

(0.413)

2.24

1.399

1.438

0.992

1.948

2.034

Breusch-Pagan test

(0.134)

(0.24)

(0.23)

(0.319)

(0.163)

(0.154)