Table 3

Robustness test

Pilot year(1)(2)(3)(4)(5)(6)(7)
Over years20092010201120122013Multiple years
Test0.373*** (0.043)0.524*** (0.056)0.387*** (0.040)0.276*** (0.038)0.225*** (0.038)0.232*** (0.036)0.135*** (0.008)
Constant−2.782*** (0.505)−1.788*** (0.253)1.138*** (0.306)1.410*** (0.302)1.463*** (0.300)1.493*** (0.298)0.334*** (0.049)
Control variableYESYESYESYESYESYESYES
Individual fixationYESYESYESYESYESYESYES
Fixed timeYESYESYESYESYESYESYES
N8673,3153,5253,5813,6233,7633,414
R20.9290.9610.9680.9670.9670.9670.307

Note(s): *, ** and *** indicate that the regression coefficient is significant at the levels of 10%, 5% and 1%, respectively

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