Table 3 Basic estimation results.
(1) | (2) | (3) | (4) | |
|---|---|---|---|---|
Transportation infrastructure | 0.0136*** | 0.0129*** | 0.0036** | 0.0014** |
(4.266) | (4.077) | (2.505) | (2.232) | |
Level of external opening up | 0.0001* | 0.0002** | − 0.0001** | 0.0000 |
(1.765) | (2.459) | (− 2.006) | (1.055) | |
Dependence on foreign capital | 2.3013*** | 2.6385*** | − 01.3570*** | − 00.6936*** |
(5.159) | (5.250) | (− 4.617) | (− 3.842) | |
Degree of government intervention | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
(1.057) | (1.072) | (1.016) | (1.381) | |
Human capital level | 0.0000*** | 0.0000 | 0.0000*** | − 00.0000*** |
(4.345) | (0.589) | (3.544) | (− 5.905) | |
_cons | 0.0061* | 0.0075** | 0.0317*** | 0.0583*** |
(1.771) | (2.099) | (10.661) | (21.808) | |
Time effect | NO | YES | NO | YES |
Regional effect | NO | NO | YES | YES |
N | 4221 | 4221 | 4221 | 4221 |
R2 | 0.3288 | 0.3379 | 0.8825 | 0.9082 |