ninvest

ninvest 1

ninvest 2

ninvest 3

ninvest 4

main

cgzcfl

−0.396***

−0.361**

−0.796***

−0.401

0.0119

(−2.72)

(−2.42)

(−3.75)

(−1.44)

(0.05)

laborl

0.0000578***

0.0000377**

0.0000820***

0.0000881***

0.0000372**

(3.84)

(2.52)

(4.40)

(3.69)

(2.05)

cgzcflxlaborl

−0.0000251**

−0.0000118

−0.0000464***

−0.0000652***

−0.0000197

(−2.42)

(−1.14)

(−3.59)

(−3.36)

(−1.47)

lndistance

−0.634***

−0.461**

−1.010***

0.00296

−0.853***

(−3.26)

(−2.37)

(−3.89)

(0.01)

(−3.11)

lngdp

−0.157

−0.113

0.00513

−0.585***

0.0460

(−1.60)

(−1.12)

(0.04)

(−3.64)

(0.31)

lnhgdp

−0.239***

−0.104

−0.453***

−0.583***

−0.113

(−3.24)

(−1.35)

(−4.14)

(−4.51)

(−0.91)

lncgdp

0.824

1.073

0.595

−0.227

1.484

(1.16)

(1.44)

(0.59)

(−0.17)

(1.38)

cd

0.0239

−0.0107

0.232***

−0.124

0.0487

(0.48)

(−0.21)

(3.27)

(−1.27)

(0.62)

ch

0.0347***

0.0290***

0.0642***

0.0356*

0.0326***

(3.97)

(3.23)

(5.40)

(1.89)

(3.03)

lnex

0.729***

0.652***

0.634***

1.005***

0.669***

(7.32)

(6.32)

(4.23)

(5.42)

(3.64)

highex

−0.0157**

−0.0128*

−0.0352***

−0.0000425

−0.0121

(−2.53)

(−1.91)

(−3.95)

(−0.00)

(−1.21)

re

−0.00424*

−0.00398*

−0.00725**

0.00490

−0.00630*

(−1.89)

(−1.67)

(−2.26)

(1.17)

(−1.65)

_cons

−5.387

−11.26

−2.210

7.904

−19.26

(−0.67)

(−1.33)

(−0.20)

(0.54)

(−1.57)

inflate

_cons

−3.169***

−3.117***

−3.244***

−3.647*

−32.06

(−5.58)

(−3.81)

(−3.32)

(−1.67)

(−0.00)

lnalpha

_cons

−0.545***

−0.584***

−0.303

−0.00904

−0.729**

(−3.76)

(−3.16)

(−1.46)

(−0.03)

(−2.29)

N

260

260

260

260

260