Robustness check results for H1
| 2SLS | rLREG | rMENP | Addctl | |
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Variables | MENP | MENP | rMENP | MENP |
| Panel A | ||||
| LREG | 3.2335*** | 0.2292*** | 0.1948*** | |
| (0.9911) | (0.0616) | (0.0539) | ||
| rLREG | 0.4978*** (0.0899) | |||
| AI | 0.2926*** (0.0730) | |||
| MDIG | 0.4320*** (0.0748) | |||
| City FE | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | Yes |
| Control | Yes | Yes | Yes | Yes |
| Observations | 3,365 | 3,367 | 3,367 | 3,367 |
| R-squared | −0.2420 | 0.5064 | 0.5093 | 0.5227 |
| Number of cities | 279 | 280 | 280 | 280 |
| 2SLS | Addctl | |||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Variables | ||||
| 3.2335*** | 0.2292*** | 0.1948*** | ||
| (0.9911) | (0.0616) | (0.0539) | ||
| 0.4978*** (0.0899) | ||||
| 0.2926*** (0.0730) | ||||
| 0.4320*** (0.0748) | ||||
| City | Yes | Yes | Yes | Yes |
| Year | Yes | Yes | Yes | Yes |
| Control | Yes | Yes | Yes | Yes |
| Observations | 3,365 | 3,367 | 3,367 | 3,367 |
| −0.2420 | 0.5064 | 0.5093 | 0.5227 | |
| Number of cities | 279 | 280 | 280 | 280 |
| Panel B | ||||
|---|---|---|---|---|
| Province FE | RE | LAG | MLE | |
| (1) | (2) | (3) | (4) | |
| Variables | MENP | MENP | MENP | MENP |
| LREG | 0.2229*** (0.0660) | 0.2399*** (0.0708) | 0.2137*** (0.0426) | |
| L.LREG | 0.2671*** (0.0684) | |||
| City FE | No | Yes | Yes | Yes |
| Province FE | Yes | No | No | No |
| Year FE | Yes | Yes | Yes | Yes |
| Control | Yes | Yes | Yes | Yes |
| Observations | 3,367 | 3,367 | 3,006 | 3,367 |
| R-squared | 0.6217 | 0.4407 | 0.4618 | – |
| Number of cities | 280 | 280 | 280 | 280 |
| Province | ||||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| Variables | ||||
| 0.2229*** (0.0660) | 0.2399*** (0.0708) | 0.2137*** (0.0426) | ||
| City | No | Yes | Yes | Yes |
| Province | Yes | No | No | No |
| Year | Yes | Yes | Yes | Yes |
| Control | Yes | Yes | Yes | Yes |
| Observations | 3,367 | 3,367 | 3,006 | 3,367 |
| 0.6217 | 0.4407 | 0.4618 | – | |
| Number of cities | 280 | 280 | 280 | 280 |
R2 is not available under MLE estimation. Robust standard errors in parentheses ***p < 0.01, **p < 0.05, *p < 0.1
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