Table 2 OLS estimation of land finance affecting REI.

From: Underestimated impacts: the multi-dimensional roles of land finance in driving regional economic integration

 

2002–2003

2004–2014

2015–2020

LF

0.021

(0.02)

  

−0.030***

(0.01)

  

0.287***

(0.05)

  

LTM

 

0.002

(0.02)

  

−0.139

(0.23)

  

5.160**

(2.22)

 

LIM

  

0.008

(0.02)

  

−0.020

(0.95)

  

−1.420

(3.31)

urban

1.215***

(0.21)

1.215***

(0.21)

1.215***

(0.21)

1.376***

(0.40)

0.591

(0.44)

0.585

(0.44)

0.043

(0.79)

0.639

(0.81)

0.583

(0.81)

indu

0.114

(0.14)

0.117

(0.14)

0.126

(0.15)

1.854***

(0.20)

1.978***

(0.21)

1.982***

(0.21)

−0.163

(0.20)

−0.036

(0.21)

−0.079

(0.21)

govern

0.005

(0.10)

−0.015

(0.10)

−0.009

(1.10)

−0.283***

(0.06)

−0.253***

(0.06)

−0.254***

(0.06)

0.541**

(0.23)

0.467*

(0.24)

0.539**

(0.24)

open

11.085***

(1.16)

11.219***

(1.18)

11.182***

(1.17)

−0.635

(0.39)

−0.787**

(0.39)

−0.786**

(0.39)

−2.252

(3.28)

−1.726

(3.39)

−1.838

(3.41)

traffic

0.028***

(0.01)

0.028***

(0.01)

0.028***

(0.01)

0.025***

(0.01)

0.021**

(0.01)

0.020**

(0.01)

−0.005

(0.02)

0.005

(0.02)

0.001

(0.02)

tech

0.038***

(0.00)

0.038***

(0.00)

0.038***

(0.00)

0.032***

(0.00)

0.033***

(0.00)

0.033***

(0.00)

0.050***

(0.00)

0.063***

(0.00)

0.062

(0.00)

_cons

−0.877***

(0.17)

−0.931***

(0.19)

−0.906***

(0.17)

−1.917***

(0.29)

−1.691***

(0.26)

−1.685***

(0.26)

−1.713***

(0.58)

−2.447***

(0.58)

−2.657**

(0.58)

R2

0.857

0.856

0.856

0.654

0.632

0.631

0.643

0.627

0.622

N

108

108

108

1188

1188

1188

648

648

648

  1. *, ** and *** denote p-values less than 0.1, 0.05, and 0.01, respectively.
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