Variables and indicators | Fixed effect model | Random effect model | ||||
Static model | Dynamic model | Total samples | Except 2004 | Except 2011 | Except 2016 | |
① | ② | ③ | ④ | ⑤ | ⑥ | |
lnGDP | 0.559*** | 0.473*** | 0.644*** | 0.629*** | 0.608*** | 0.641*** |
| (4.09) | (3.26) | (9.17) | (8.78) | (8.69) | (8.89) |
lnConsumption | −0.002 | −0.104 | 0.089 | 0.061 | 0.036 | 0.091 |
| (−0.01) | (−0.57) | (0.86) | (0.58) | (0.35) | (0.85) |
Urban | 0.017* | 0.012 | −0.009** | −0.010** | −0.009** | −0.010** |
| (1.86) | (1.31) | (−2.23) | (−2.39) | (−2.16) | (−2.30) |
lnFinancial | 0.239*** | 0.168** | 0.270*** | 0.289*** | 0.310*** | 0.274*** |
| (3.06) | (1.98) | (3.70) | (3.78) | (4.17) | (3.61) |
IP | 0.216*** | 0.211*** | 0.207*** | 0.202*** | 0.240*** | 0.212*** |
| (5.80) | (5.68) | (5.68) | (5.50) | (6.26) | (5.42) |
Highway | 0.082*** | 0.058** | 0.076*** | 0.079*** | 0.079*** | 0.075*** |
| (3.18) | (2.13) | (3.25) | (3.28) | (3.38) | (3.09) |
RP | −0.538*** | −0.435*** | −0.791*** | −0.802*** | −0.804*** | −0.778*** |
| (−3.74) | (−2.98) | (−6.78) | (−6.82) | (−6.70) | (−6.34) |
L.lnCars |
| 0.275*** |
|
|
|
|
|
| (6.51) |
|
|
|
|
_cons |
|
| −4.264*** | −4.141*** | −4.123*** | −4.251*** |
|
|
| (−11.46) | (−11.11) | (−11.33) | (−11.27) |
Wx: |
|
|
|
|
|
|
lnProduction | 0.225*** | 0.269*** | 0.068* | 0.066* | 0.054 | 0.065 |
| (4.59) | (5.30) | (1.70) | (1.66) | (1.45) | (1.63) |
lnOwnership | −0.527*** | −0.410*** | −0.402*** | −0.379*** | −0.328** | −0.402*** |
| (−3.38) | (−2.58) | (−3.31) | (−3.04) | (−2.57) | (−3.20) |
lnCost | −0.813* | −0.641 | −0.111 | −0.076 | −0.115 | −0.100 |
| (−1.76) | (−1.32) | (−0.65) | (−0.44) | (−0.70) | (−0.57) |
lnFreight | 0.656*** | 0.429** | 0.347** | 0.299** | 0.364** | 0.344** |
| (3.27) | (2.01) | (2.37) | (2.03) | (2.58) | (2.31) |
lnPassenger | 0.021 | 0.014 | −0.079 | −0.095 | −0.112* | −0.085 |
| (0.29) | (0.18) | (−1.27) | (−1.51) | (−1.73) | (−1.34) |
Spatial rho | 0.165 | 0.098 | 0.254** | 0.275*** | 0.193* | 0.255** |
| (1.57) | (0.89) | (2.51) | (2.68) | (1.78) | (2.44) |
Variance: |
|
|
|
|
|
|
sigma2_e | 0.112*** | 0.115*** | 0.124*** | 0.125*** | 0.127*** | 0.131*** |
| (16.68) | (17.18) | (15.78) | (15.24) | (15.37) | (15.31) |
lgt_theta |
|
| −0.293 | −0.175 | −0.099 | −0.171 |
|
|
| (−0.90) | (−0.50) | (−0.29) | (−0.50) |
N | 558 | 527 | 558 | 527 | 527 | 527 |
R2 | 0.781 | 0.801 | 0.901 | 0.899 | 0.906 | 0.898 |