(1)

(2)

(3)

(4)

(5)

(6)

VARIABLES

lnGDP

lnGDP

lnGDP

lnGDP

lnGDP

lnGDP

lnFIN

0.6619***

0.6203***

0.5853***

0.4620***

0.4600***

0.4649***

(5.0587)

(4.4054)

(4.2055)

(3.3987)

(3.5016)

(3.9514)

URBAN

0.2745

0.3122

0.3712

0.2445

0.1063

(0.8058)

(0.9303)

(1.1571)

(0.7837)

(0.3794)

UR

−0.2595***

−0.1248

−0.1546

−0.0283

(−2.6657)

(−1.2734)

(−1.6258)

(−0.3247)

OLD

−0.0177***

−0.0217***

−0.0180***

(−4.3397)

(−5.3187)

(−4.8569)

YOUNG

0.0128***

0.0098***

(3.7511)

(3.1735)

REV

−1.0440***

(−6.8147)

Constant

6.1351***

6.2107***

7.0570***

7.6073***

7.5156***

7.5741***

(8.5674)

(8.5916)

(9.0591)

(10.0778)

(10.2961)

(11.5860)

District Fixed Effect

YES

YES

YES

YES

YES

YES

Time Fixed Effect

YES

YES

YES

YES

YES

YES

Observations

224

224

224

224

224

224

R-squared

0.9977

0.9977

0.9977

0.9980

0.9981

0.9985

r2_a

0.9972

0.9972

0.9973

0.9975

0.9977

0.9982

F

25.5903***

13.0959***

11.3843***

14.0651***

14.8611***

23.1827***