Table 4 Effect of the belt and road initiative on income disparity: result of IV regression.
From: Convergence effect of the Belt and Road Initiative on income disparity: evidence from China
Variables | First stage regression | Second stage regression | |
|---|---|---|---|
(1) fe | (2) fe | (3) fe | |
IV × policy | 0.581*** (23.17) |  |  |
treat × policy |  | −0.143*** (−7.67) | −0.142*** (−7.63) |
govtec | −0.669*** (−3.50) |  | −0.434*** (−5.18) |
market | −0.021*** (−3.47) |  | −0.006** (−2.15) |
culture | 0.015*** (4.00) | Â | 0.001 (0.08) |
human | 0.341 (0.73) |  | −0.177 (−0.88) |
urban | −0.002 (−0.87) |  | 0.001 (0.46) |
ln net | −0.055*** (−7.40) |  | −0.013*** (−3.87) |
cons | 0.112* (1.95) | 0.576*** (116.13) | 0.604*** (74.57) |
fixed time | Yes | Yes | Yes |
fixed individuals | Yes | Yes | Yes |
F statistic | 20.45 | Â | Â |
Sample size | 4304 | 4304 | 4304 |
Adj-R2 | 0.568 | 0.258 | 0.266 |
