lny

(1)

(2)

(3)

(4)

(5)

(6)

time

−82.92***

−64.96***

−76.57***

−73.46***

−53.97***

−57.95***

(−2.74)

(−3.35)

(−5.764)

(−2.75)

(−3.57)

(−3.74)

dt

−43.21

−43.42

−47.28

−38.53

−73.67

−24.59

(−0.30)

(−0.358)

(−0.86)

(−0.70)

(−0.93)

(−1.57)

time*dt

246.18***

143.53***

140.37**

134.53**

132.43*

104.18*

(3.88)

(4.28)

(2.26)

(2.18)

(1.89)

(1.88)

lnfs

8.93**

8.76**

6.52**

5.32**

4.79**

(2.62)

(2.37)

(2.47)

(2.98)

(2.63)

lnpop

5.60***

6.01***

8.63**

7.31**

(3.27)

(3.44)

(2.20)

(2.12)

lntax

1.12

9.65

2.18

(1.47)

(1.28)

(1.35)

lngdp

−3.55

−1.44

(−0.16)

(−0.13)

lnifa

−2.29

(−0.34)

_cons

−9.87***

−9.82***

−7.26***

−9.24***

−13.35***

−29.79***

(−6.79)

(−3.65)

(−3.74)

(−3.65)

(−3.88)

(−3.77)

N

1008

1008

1008

1008

1008

1008

Urban fixed effect

yes

yes

yes

yes

yes

yes

Fixed year effect

yes

yes

yes

yes

yes

yes

R²

0.298

0.330

0.358

0.374

0.415

0.498