Table 1 The instrumental estimate of AI on NS.
Variable | West | Central | East | |||
|---|---|---|---|---|---|---|
1st stage | 2nd stage | 1st stage | 2nd stage | 1st stage | 2nd stage | |
IV | −53.3572*** (10.851) | 一 | −49.6820** (20.915) | 一 | −4.6530*** (0.927) | 一 |
AI | 一 | 0.1796*** (0.040) | 一 | −0.0919* (0.051) | 一 | −0.0921*** (0.015) |
Constant | −104.0852* (59.074) | 39.6956*** (14.839) | −27.2446 (57.846) | −58.0531*** (14.183) | 431.1728*** (138.048) | −52.4976** (26.648) |
Year trend | 1.2338 (2.337) | 5.1855*** (0.520) | −8.1095*** (2.221) | 4.9623*** (0.746) | −8.0956*** (2.270) | 4.0818*** (0.444) |
Year trend2 | 0.6365*** (0.132) | −0.3822*** (0.039) | 1.2889*** (0.157) | −0.2410*** (0.074) | 1.0387*** (0.151) | −0.2031*** (0.029) |
Control variables | YES | YES | YES | YES | YES | YES |
City-fixed effects | YES | YES | YES | YES | YES | YES |
Observations | 1154 | 1154 | 1457 | 1457 | 1423 | 1423 |
Adjusted R2 | 0.786 | 0.966 | 0.789 | 0.941 | 0.766 | 0.972 |
F test value | 36.52*** | 617.3*** | 48.65*** | 854.9*** | 32.07*** | 880.8*** |
Under-identification test | ||||||
Sanderson-Windmeijer | 26.42*** | 6.10** | 27.24*** | |||
Kleibergen-Paap rk LM statistic | 16.81*** | 17.823*** | 20.14*** | |||
Weak IV tests | ||||||
F test of excluded instruments | 24.18*** | 5.64** | 25.18*** | |||
Cragg-Donald Wald | 28.89 | 15.003 | 49.51 | |||
Anderson-Rubin Wald | 20.19*** | 5.43** | 12.27*** | |||
