Baseline regression results
| Variable | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
| CO2 | CO2 | PM2.5 | PM2.5 | |
| policy × pilot | −0.022*** (−5.799) | −0.022*** (−6.458) | −0.171*** (−4.676) | −0.067*** (−8.284) |
| capacity | 0.021*** (52.317) | 0.006*** (7.792) | ||
| greenfin | −0.004** (−2.368) | −0.034** (−2.559) | ||
| ven | −0.042 (−1.097) | 0.083 (1.106) | ||
| rd_gdp | 0.000 (0.169) | −0.271*** (−6.493) | ||
| _cons | 14.034*** (1.26e + 13) | 4.324*** (8.56e + 13) | ||
| Plant FE | Y | Y | Y | Y |
| Year FE | Y | Y | Y | Y |
| N | 1,100 | 1,100 | 1,100 | 1,100 |
| r2 | 0.974 | 0.974 | 0.737 | 0.797 |
| Variable | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
| CO2 | CO2 | PM2.5 | PM2.5 | |
| −0.022 | −0.022 | −0.171 | −0.067 | |
| 0.021 | 0.006 | |||
| −0.004 | −0.034 | |||
| −0.042 (−1.097) | 0.083 (1.106) | |||
| 0.000 (0.169) | −0.271 | |||
| _cons | 14.034 | 4.324 | ||
| Plant FE | Y | Y | Y | Y |
| Year FE | Y | Y | Y | Y |
| N | 1,100 | 1,100 | 1,100 | 1,100 |
| r2 | 0.974 | 0.974 | 0.737 | 0.797 |
Notes:
t-values in brackets; models are estimated with Driscoll–Kray errors; **significant at 5%, ***significant at 1%
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