Regression results for regional heterogeneity using 2SLS
| Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
|---|---|---|---|---|---|---|---|---|
| East | West | East | West | East | West | East | West | |
| ESI | ESI | ESI | ESI | ESI | ESI | ESI | ESI | |
| CUST_P | 4.0566*** (0.9493) | 3.8795*** (0.5355) | ||||||
| EMP_P | 0.1451** (0.0644) | 0.1407 (0.0980) | ||||||
| SUP_P | 0.0041*** (0.0015) | 0.0042 (0.0030) | ||||||
| SHR_P | 0.0051* (0.0028) | −0.0048 (0.0045) | ||||||
| Constant | −2.4095** (0.9549) | −5.0956*** (1.4416) | −4.3871*** (1.1804) | −7.2969*** (1.6498) | −2.8419*** (0.9608) | −6.1043*** (1.4303) | −2.7042*** (0.9587) | −6.1188*** (1.4304) |
| Controls | Included | Included | Included | Included | Included | Included | Included | Included |
| Industry FE | YES | YES | YES | YES | YES | YES | YES | YES |
| Time FE | YES | YES | YES | YES | YES | YES | YES | YES |
| Observations | 3,436 | 1,170 | 3,436 | 1,170 | 3,436 | 1,170 | 3,436 | 1,170 |
| R-squared | 0.32 | 0.37 | 0.31 | 0.36 | 0.32 | 0.36 | 0.31 | 0.37 |
| Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
|---|---|---|---|---|---|---|---|---|
| East | West | East | West | East | West | East | West | |
| ESI | ESI | ESI | ESI | ESI | ESI | ESI | ESI | |
| CUST_P | 4.0566 | 3.8795 | ||||||
| EMP_P | 0.1451** (0.0644) | 0.1407 (0.0980) | ||||||
| SUP_P | 0.0041 | 0.0042 (0.0030) | ||||||
| SHR_P | 0.0051* (0.0028) | −0.0048 (0.0045) | ||||||
| Constant | −2.4095** (0.9549) | −5.0956 | −4.3871 | −7.2969 | −2.8419 | −6.1043 | −2.7042 | −6.1188 |
| Controls | Included | Included | Included | Included | Included | Included | Included | Included |
| Industry FE | YES | YES | YES | YES | YES | YES | YES | YES |
| Time FE | YES | YES | YES | YES | YES | YES | YES | YES |
| Observations | 3,436 | 1,170 | 3,436 | 1,170 | 3,436 | 1,170 | 3,436 | 1,170 |
| 0.32 | 0.37 | 0.31 | 0.36 | 0.32 | 0.36 | 0.31 | 0.37 |
Notes:
Robust standard errors in parentheses; ***p < 0.01; **p < 0.05; *p < 0.1