Table 5 Regression results.
From: Dynamic spatial spillover effects of financial agglomeration on CO2 emissions: the case of China
Weight matrix | 0–1 adjacent space weight matrix (W1) | Economic distance space weight matrix (W2) | Geographical distance space weight Matrix (W3) | Ordinary least squares | |||
|---|---|---|---|---|---|---|---|
\(C{O}_{2i(t-1)}\) | 2.673*** (0.031) | 0.747*** (0.031) | 1.057*** (0.030) | ||||
\(W\ast C{O}_{2i(t-1)}\) | 24.00*** (0.299) | 1.398*** (0.349) | 0.710*** (0.124) | ||||
\(FC\) | −1.104*** (0.169) | −0.780*** (0.101) | −1.116*** (0.172) | −3.739*** (0.102) | −1.070*** (0.169) | −0.500*** (0.099) | −1.109** (−1.98) |
\(LY\) | 1.380*** (0.165) | 2.520*** (0.125) | 1.222*** (0.171) | 2.842*** (0.128) | 1.196*** (0.166) | 0.340*** (0.118) | 1.365*** (3.63) |
\(PS\) | 0.807*** (0.102) | −1.236*** (0.133) | 0.791*** (0.0818) | 1.396*** (0.134) | 0.903*** (0.105) | 0.206 (0.161) | 0.753*** (5.24) |
\(OFDI\) | 1.361 (0.992) | −1.756*** (0.528) | 1.482 (1.027) | −10.11*** (0.555) | 1.147 (1.026) | 0.507 (0.549) | −1.773*** (−2.86) |
\(FDI\) | −0.0780 (0.074) | 1.286*** (0.041) | −0.0883 (0.076) | 1.769*** (0.042) | −0.0614 (0.074) | 0.330*** (0.041) | −0.103 (−0.80) |
\(IS\) | −0.400** (0.187) | 3.106*** (0.125) | −0.370* (0.193) | 3.627*** (0.119) | −0.434** (0.180) | 0.412*** (0.115) | −0.540** (−1.99) |
\(R\& D\) | −1.645 (3.243) | 72.83*** (2.118) | −6.187* (3.491) | 54.54*** (2.161) | −6.126* (3.528) | 28.19*** (2.129) | −4.763 (−0.80) |
\(W\ast FC\) | −0.215 (0.818) | −43.72*** (0.772) | 0.0275 (0.941) | −66.89*** (0.649) | 0.575 (0.427) | −1.170*** (0.227) | |
\(W\ast LY\) | −0.834*** (0.187) | 45.34*** (0.866) | −0.955*** (0.239) | 79.53*** (0.885) | −0.837*** (0.182) | 2.831*** (0.292) | |
\(W\ast PS\) | −2.349*** (0.772) | −35.89*** (0.754) | −2.359*** (0.721) | −54.44*** (1.056) | −0.752*** (0.233) | −1.626*** (0.285) | |
\(W\ast OFDI\) | 0.119 (2.907) | 52.20*** (3.025) | −3.004 (2.820) | 229.1*** (5.160) | −0.941 (1.690) | 6.747*** (1.135) | |
\(W\ast FDI\) | −0.322 (0.331) | 7.310*** (0.325) | −0.167 (0.464) | 7.794*** (0.416) | −0.261 (0.159) | 0.242** (0.101) | |
\(W\ast IS\) | −1.458*** (0.555) | 23.77*** (0.827) | −0.940 (0.720) | 39.60*** (0.987) | −0.679** (0.311) | 1.808*** (0.306) | |
\(W\ast R\& D\) | 17.61 (12.541) | 1740*** (12.040) | 25.16* (13.811) | 3153*** (14.070) | 4.675 (6.325) | 174.4*** (4.354) | |
\(\rho\) | 0.324*** (0.116) | 7.377*** (0.212) | 0.330*** (0.128) | 3.036*** (0.218) | 0.278*** (0.0809) | 0.304*** (0.0794) | |
\({R}^{2}\) | 0.577 | 0.534 | 0.767 | 0.553 | 0.679 | 0.648 | 0.787 |
Sample size | 420 | 390 | 420 | 390 | 420 | 390 | 420 |
