Table 4 Balance test results of PSM.

From: Has the establishment of green finance reform and innovation pilot zones improved air quality? Evidence from China

Variables

 

Average of treatment group

Average of control group

Standardization deviation (%bias)

Statistical value of T

Statistical value of P

temp

Before

11.197

10.864

65.4

12.16

0.000

After

11.197

11.194

0.6

0.10

0.917

lngdp

Before

125.58

118.33

63.7

11.79

0.000

After

125.58

125.49

0.8

0.14

0.890

lngdp2

Before

43.131

40.94

49.4

8.69

0.000

After

43.131

42.747

8.7

1.47

0.142

greenr

Before

17.568

19.087

−19.2

−3.89

0.000

After

17.568

17.675

−1.3

−0.19

0.846

pop

Before

0.0251

0.0184

35.8

6.37

0.000

After

0.0251

0.027

−10.5

−1.36

0.173

fdi

Before

8.428

7.2164

19.9

4.30

0.000

After

8.428

8.5157

−1.4

−0.20

0.839