Determinants of global interest in the eCNY (two-stage least square regression estimation)
| Dependent variable: e-CNY | Dependent variable: eCNY | |||||||
|---|---|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
| Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | |
| c | 8.089 (1.06) | 11.496* (1.88) | 6.579 (0.89) | 6.658 (1.09) | 5.112 (0.52) | 9.922 (1.37) | 5.216 (0.57) | 7.869 (1.06) |
| Interest in CBDC1 | 0.102 (1.01) | 0.102 (0.99) | −0.035 (−0.29) | −0.040 (−0.32) | ||||
| Interest in CBDC2 | 0.362*** (3.36) | 0.365*** (3.44) | 0.099 (0.75) | 0.106 (0.82) | ||||
| Interest in SD | 0.134 (1.29) | −0.010 (−0.09) | 0.214 (1.58) | 0.145 (1.08) | ||||
| Interest in the SDGs | 0.092 (1.08) | −0.014 (−0.16) | 0.159 (1.58) | 0.112 (1.05) | ||||
| Interest in cryptocurrency | −0.137 (−1.16) | −0.135 (−1.14) | −0.170 (−1.49) | −0.171 (−1.49) | −0.086 (−0.61) | −0.083 (−0.58) | −0.083 (−0.59) | −0.080 (−0.57) |
| R2 (%) | 2.802 | 2.53 | 8.02 | 8.01 | 1.59 | 1.52 | 1.86 | 1.82 |
| Adjusted R2 (%) | 1.19 | 0.91 | 6.47 | 6.49 | −0.04 | −0.11 | 0.24 | 0.19 |
| F-Statistic | 1.739 | 1.565 | 5.247 | 5.25 | 0.932 | 0.932 | 1.149 | 1.121 |
| P(F-Statistic) | 0.161 | 0.199 | 0.002 | 0.002 | 0.426 | 0.427 | 0.331 | 0.342 |
| Dependent variable: e-CNY | Dependent variable: eCNY | |||||||
|---|---|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
| Coefficient ( | Coefficient ( | Coefficient ( | Coefficient ( | Coefficient ( | Coefficient ( | Coefficient ( | Coefficient ( | |
| c | 8.089 (1.06) | 11.496* (1.88) | 6.579 (0.89) | 6.658 (1.09) | 5.112 (0.52) | 9.922 (1.37) | 5.216 (0.57) | 7.869 (1.06) |
| Interest in CBDC1 | 0.102 (1.01) | 0.102 (0.99) | −0.035 (−0.29) | −0.040 (−0.32) | ||||
| Interest in CBDC2 | 0.362*** (3.36) | 0.365*** (3.44) | 0.099 (0.75) | 0.106 (0.82) | ||||
| Interest in SD | 0.134 (1.29) | −0.010 (−0.09) | 0.214 (1.58) | 0.145 (1.08) | ||||
| Interest in the SDGs | 0.092 (1.08) | −0.014 (−0.16) | 0.159 (1.58) | 0.112 (1.05) | ||||
| Interest in cryptocurrency | −0.137 (−1.16) | −0.135 (−1.14) | −0.170 (−1.49) | −0.171 (−1.49) | −0.086 (−0.61) | −0.083 (−0.58) | −0.083 (−0.59) | −0.080 (−0.57) |
| 2.802 | 2.53 | 8.02 | 8.01 | 1.59 | 1.52 | 1.86 | 1.82 | |
| Adjusted | 1.19 | 0.91 | 6.47 | 6.49 | −0.04 | −0.11 | 0.24 | 0.19 |
| 1.739 | 1.565 | 5.247 | 5.25 | 0.932 | 0.932 | 1.149 | 1.121 | |
| P( | 0.161 | 0.199 | 0.002 | 0.002 | 0.426 | 0.427 | 0.331 | 0.342 |
Note(s): The instruments used in the 2SLS estimation are the lagged explanatory variables. T-statistic is reported in parenthesis. *** and * represent statistical significance at the 1% and 10% levels
Source(s): Author’s computation