Table 5 Exclusion of policy interference.

From: Market-incentive environmental regulation and total factor energy efficiency: evidence from China’s energy-consuming right trading pilot

Variables

(1)

(2)

(3)

(4)

(5)

(6)

TFEE

TFEE

TFEE

TFEE

TFEE

TFEE

Treat×Post

0.087*

0.087**

0.108**

0.104*

0.089*

0.096*

 

(0.046)

(0.044)

(0.055)

(0.054)

(0.050)

(0.050)

Control

No

YES

No

YES

No

YES

Constant

−0.007

0.450

0.056***

5.315***

−0.031***

4.901***

 

(0.012)

(1.547)

(0.0135)

(2.220)

(0.012)

(1.701)

Obs

2222

2156

2035

1991

2332

2266

R-squared

0.690

0.701

0.692

0.692

0.693

0.707

City FE

YES

YES

YES

YES

YES

YES

Year FE

YES

YES

YES

YES

YES

YES

  1. ***, **, and * represent significance levels of 1%, 5%, and 10%, respectively. Robust standard errors after clustering are in the parentheses.
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