Determinants of Corruption and Economic Freedom Using GMM Dep variable = Corruption Estimator IV 3SLS
System Econ Free 0.
The results (not reported here, but available from the authors upon request) corroborate those of the 3SLS
A third robustness test concerns the choice of instrumental variables, a central step in the estimation process using the 3SLS
Moreover, their statistical significance increases when we move from standard to partial (OLS) coefficients, and the same occurs when we move from OLS to SUR, and from SUR to 3SLS
The adjusted R2 calculated by 2SLS is little bit low as computed from 3SLS
To ensure that the 3SLS
estimator was consistent vis-a-vis the two-stage least squares (2SLS) estimator, we conducted a Hausman test to determine whether the estimates differed (if they do, then the 2SLS estimator must be retained).
Method of estimation Limiting assumptions Normality Homoscedasticity OLS -- * Cross-Equation -- - Weighting sur -- - (ZELLNER, 1962) 2SLS -- * (BASMANN, 1957) WTSLS -- -- 3SLS
-- -- (ZELLNER; THEIL, 1962) FIML * -- (AMEMIYA, 1977) GMM -- -- (HANSEN, 1982) Method of estimation Limiting assumptions IPE (1) IET (2) Instruments OLS * * No Cross-Equation * * No Weighting sur -- -- No (ZELLNER, 1962) 2SLS -- * Yes (BASMANN, 1957) WTSLS -- * Yes 3SLS
-- -- Yes (ZELLNER; THEIL, 1962) FIML - -- No (AMEMIYA, 1977) GMM * -- Yes (HANSEN, 1982) (1)-Independency between Predictors and Errors (2)-Independent error terms.
Silveira, Barros & Fama (2006) also applied multiple regressions estimated by OLS, 2SLS and 3SLS
, to a sample of 154 Brazilian companies in 2000.
Bajo homocedasticidad, los metodos estandar pretenden reducir sesgo por endogeneidad, pero 3SLS
combina estimaciones 2SLS y SUR para el mejoramiento de la eficiencia en las estimaciones.
Resultados do sistema de equacoes explicativo do valor doado estimado por 3SLS
Three-stage least squares regression # Equacao Var.
To circumscribe this issue we estimate the following system of equations using 3SLS
Therefore, I have two overidentified equations (equations (1) and (2)) that can be consistently estimated by using Instrument Variables approach for Panel Data, I also include multiple estimation techniques to show for robustness of the results, thus I use also 2SLS and 3SLS
simultaneous system of equations regression, and the two-step GMM estimation.