Table 6 Analysis of heterogeneity in East, Central and West regions.
(1) E_1 | (2) E_2 | (3) E_3 | (4) M_1 | (5) M_2 | (6) M_3 | (7) W_1 | (8) W_2 | (9) W_3 | |
|---|---|---|---|---|---|---|---|---|---|
Dependent variable | EE | OIS | EE | EE | OIS | EE | EE | OIS | EE |
DFL | 0.021** | 0.026*** | 0.014** | 0.004 | 0.020* | 0.006 | 0.014** | −0.006 | 0.015*** |
(3.16) | (3.82) | (2.56) | (0.50) | (2.00) | (0.87) | (3.12) | (−0.62) | (3.85) | |
OIS | 0.502* | −0.186* | −0.007 | ||||||
(0.44) | (−2.09) | (−0.61) | |||||||
_cons | −4.665 | −7.247** | −1.247 | −5.023 | −2.939 | −8.273* | −6.763 | 5.251 | −8.389* |
(−1.26) | (−2.33) | (−0.41) | (−1.60) | (−0.69) | (−1.98) | (−1.64) | (1.56) | (−2.16) | |
Control variables | YES | YES | YES | YES | YES | YES | YES | YES | YES |
Provincial fixed effects | YES | YES | YES | YES | YES | YES | YES | YES | YES |
Year fixed effects | YES | YES | YES | YES | YES | YES | YES | YES | YES |
Observations | 121 | 121 | 121 | 88 | 88 | 88 | 121 | 121 | 121 |
R2 | 0.879 | 0.668 | 0.910 | 0.933 | 0.709 | 0.938 | 0.842 | 0.590 | 0.859 |
