ECONOMICS UNIQUENESS

UNESCO WORLD HERITAGE LIST, TOURISM, AND ECONOMIC GROWTH ■ 203
Appendix II: Additional Robustness Checks
TABLE 7.6
Robustness to Using Various WHL
Variables
(1)
Growth
(2)
Growth
(3)
Growth
Tourism 0.013** 0.013* 0.015**
[0.006] [0.007] [0.006]
Income –0.082 –0.083 –0.081
[0.069] [0.070] [0.070]
Education 0.158** 0.158** 0.156**
[0.066] [0.067] [0.066]
Distance 0.013*** 0.013*** 0.013***
[0.004] [0.004] [0.004]
Constant –0.027 –0.026 –0.037
[0.433] [0.435] [0.435]
Cut-off year for instrument 2002 1997 1992
Kleibergen-Paap rk Wald F statistic 19.724 10.759 10.161
Stock-Yogo weak ID test critical values
(10 percent maximal IV size)
16.38 16.38 16.38
Stock-Yogo weak ID test critical values
(15 percent maximal IV size)
8.96 8.96 8.96
Observations 96 96 96
R-squared 0.212 0.212 0.204
Robust standard errors in brackets
*** p