(0.73)

(0.68)

(1.19)

(2.43)

(2.05)

(2.48)

(2.57)

(1.32)

Policy1994

−0.0620***

−0.0692***

−0.0850***

−0.0328***

−0.0144

−0.0049

−0.0402***

−0.0082

(−6.42)

(−6.29)

(−7.77)

(−3.11)

(−1.54)

(−0.43)

(−4.24)

(−0.79)

obs

1008

1008

1008

1008

1008

1008

1008

1008

provinces

28

28

28

28

28

28

28

28

Sargan test

458.15

471.30

457.17

453.11

AR(2) test

−0.06

−0.07

−0.25

−0.05

R−squared

0.9147

0.8950

0.9114

0.8933

F

606.51

599.42

745.60

806.21

p

0.0000

0.0000

0.0000

0.0000