The regression results of main findings
| Model 1 | Model 2 | Model 3 | |
|---|---|---|---|
| Variables | Efficiency | Efficiency | Efficiency |
| Carbon | –0.009*** (–3.17) | –0.011*** (–3.62) | |
| HSR | –0.009*** (–3.43) | –0.011*** (–3.37) | |
| HSR* Carbon | –0.008* (–1.77) | ||
| Population | –0.004 (–1.20) | –0.004 (–1.12) | –0.004 (–1.16) |
| Education | –0.010*** (–7.26) | –0.010*** (–7.17) | –0.010*** (–7.39) |
| Size | 0.003*** (8.99) | 0.003*** (9.59) | 0.003*** (9.96) |
| FDI | –0.006*** (–9.78) | –0.006*** (–9.61) | –0.006*** (–9.69) |
| Internet | 0.001*** (3.67) | 0.001*** (3.40) | 0.001*** (3.80) |
| Constant | 0.328*** (15.73) | 0.325*** (15.57) | 0.326*** (15.61) |
| City | Control | Control | Control |
| Year | Control | Control | Control |
| N | 4,147 | 4,147 | 4,147 |
| Wald Chi2 | 1,223.49*** | 1,227.23*** | 1,213.34*** |
| Model 1 | Model 2 | Model 3 | |
|---|---|---|---|
| Variables | Efficiency | Efficiency | Efficiency |
| Carbon | –0.009 | –0.011 | |
| HSR | –0.009 | –0.011 | |
| HSR | –0.008 | ||
| Population | –0.004 | –0.004 | –0.004 |
| Education | –0.010 | –0.010 | –0.010 |
| Size | 0.003 | 0.003 | 0.003 |
| FDI | –0.006 | –0.006 | –0.006 |
| Internet | 0.001 | 0.001 | 0.001 |
| Constant | 0.328 | 0.325 | 0.326 |
| City | Control | Control | Control |
| Year | Control | Control | Control |
| 4,147 | 4,147 | 4,147 | |
| Wald Chi2 | 1,223.49 | 1,227.23 | 1,213.34 |
Notes:
z-statistics in parentheses. ***p < 0.01; **p < 0.05; *p < 0.1
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