Table 6.

Estimation results for H2

Base2SLSrLREGAddctl
(1)(2)(3)(4)
VariablesAIAIAIAI
Panel A
LREG0.0554*** (0.0130)0.5628*** (0.1208)0.0337*** (0.0121)
rLREG0.2564*** (0.0157)
MDIG0.1728*** (0.0102)
City FEYesYesYesYes
Year FEYesYesYesYes
ControlYesYesYesYes
Observations3,3673,3673,3673,367
R-squared0.64620.77400.67260.6822
Number of cities280280280280
Panel B
Base2SLSrLREGrLREG
(1)(2)(3)(4)
VariablesMENPMENPMENPrMENP
LREG0.2055*** (0.0555)3.0346*** (1.1381)0.2200*** (0.0599)
rLREG0.4534***
(0.0890)
AI0.4088*** (0.0780)5.4514** (2.1428)0.3558*** (0.0769)0.4586*** (0.0837)
City FEYesYesYesYes
Year FEYesYesYesYes
ControlYesYesYesYes
Observations3,3673,3673,3673,367
R-squared0.50660.62430.51010.5148
Number of cities280280280280
Note(s):

Robust standard errors in parentheses ***p < 0.01; **p < 0.05; *p < 0.1

Source(s): Author’s own creation

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