NZFE

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NZFENew Zealand Futures Exchange
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New Zealand is found to be a statistically significant positive outlier for patent activity in the second specification and is a significant positive outlier for the private R&D share in both specifications; NZFE is not significant for total R&D in either specification.
(24) We also tested interactions of NZFE with the time-varying explanatory variables (LPOP, AFF, SELF).
Table 1: Reduced Form Equations with Population Scale Variable * LR&DPC Count Fixed Effects None AA, NZ All f(DISTMIN) -0.0762 -0.0755 [0.0094] [0.0234] LPOP -0.0539 -0.0554 1.4345 [0.1417] [0.1468] [0.1864] AFF -6.9900 -7.0883 -9.3056 [0.0001] [0.0001] [0.0000] SELF -3.7671 -3.6832 1.6669 [0.0120] [0.0177] [0.3155] CNST 7.6991 7.7069 -7.6080 [0.0000] [0.0000] [0.4684] AAFE -0.0026 -0.5333 [0.9833] [0.0029] NZFE -0.0609 1.5907 [0.5465] [0.3074] f(DISTMIN): x 0 0 Adj.