Table 1 Benchmark regression results.
Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
TFEE | TFEE | TFEE | TFEE | TFEE | TFEE | TFEE | |
Treat×Post | 0.069* | 0.072* | 0.082** | 0.082** | 0.074* | 0.093** | 0.073* |
(0.041) | (0.041) | (0.040) | (0.040) | (0.040) | (0.041) | (0.041) | |
Open | 0.130* | 0.119* | 0.092* | 0.098* | 0.100* | 0.099* | |
(0.077) | (0.069) | (0.055) | (0.056) | (0.056) | (0.056) | ||
Foreign | −0.036*** | −0.032*** | −0.032*** | −0.030*** | −0.040*** | ||
(0.011) | (0.011) | (0.011) | (0.011) | (0.011) | |||
Density | −0.849*** | −0.865*** | −0.841** | −0.922*** | |||
(0.329) | (0.329) | (0.333) | (0.332) | ||||
Industry | −0.032 | −0.032 | −0.041 | ||||
(0.024) | (0.024) | (0.026) | |||||
Finance | 0.113 | 0.167 | |||||
(0.112) | (0.126) | ||||||
Economy | 2.357* | ||||||
(1.206) | |||||||
Constant | −0.005 | −0.028 | 0.395*** | 5.241*** | 5.367*** | 5.089*** | 0.0532 |
(0.010) | (0.017) | (0.124) | (1.857) | (1.861) | (1.912) | (3.165) | |
Obs. | 3080 | 3080 | 3014 | 3014 | 3014 | 3014 | 3014 |
R-squared | 0.694 | 0.694 | 0.704 | 0.705 | 0.705 | 0.705 | 0.706 |
City FE | YES | YES | YES | YES | YES | YES | YES |
Year FE | YES | YES | YES | YES | YES | YES | YES |
