Table 4 Endogeneity test.

From: Analysis of the evolution of the marginal effect of human capital structure in the process of industrial structure evolution

Variant

(1)

(2)

(3)

(4)

First-stage

Second-stage

First-stage

Second-stage

IV

−0.0018***

 

0.0314***

 

(0.0002)

 

(0.0107)

 

SH

 

0.0674***

 

0.3841***

 

(0.0249)

 

(0.1363)

K

−0.0522***

0.0032

−0.0574***

0.0165*

(0.0119)

(0.0033)

(0.0162)

(0.0099)

FDI

0.0080***

0.0005

0.0088***

−0.0008

(0.0021)

(0.0006)

(0.0030)

(0.0018)

Inf

0.0314***

0.0093***

0.0390***

−0.0093

(0.0056)

(0.0016)

(0.0075)

(0.0061)

Gov

−0.0133

−0.0103***

−0.0247

−0.0068

(0.0126)

(0.0037)

(0.0177)

(0.0079)

Fin

−0.0053

0.0193***

0.0173

0.0121**

(0.0081)

(0.0026)

(0.0123)

(0.0056)

Road

−0.0040

−0.0001

−0.0119

0.0046

(0.0061)

(0.0017)

(0.0105)

(0.0045)

ER

−0.0057

0.0059***

0.0010

0.0056***

(0.0040)

(0.0010)

(0.0056)

(0.0022)

Constant

3.8453***

0.9700***

2.4591***

0.1161

(0.1144)

(0.0934)

(0.1411)

(0.3711)

City

Yes

Yes

Yes

Yes

Year

Yes

Yes

Yes

Yes

N

4544

4544

3145

3145

R2

0.9366

0.9252

0.9287

0.7054

  1. Note: *, **, and *** indicate that the estimated coefficients are significant at the levels of 0.1, 0.05, and 0.01, respectively. Due to data limitations, there are some missing values for the number of universities in 1998. The data results presented in the table are those after excluding the missing values.
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