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Instrumental Variable Method
| Variables | (1) | (2) |
|---|---|---|
| The first stage | The second stage | |
| Anti-corruption | 0.105*** | |
| (0.006) | ||
| UPHES | 0.930** | |
| (0.362) | ||
| Control variable | Yes | Yes |
| Provincial effect | Yes | Yes |
| The F-value | 101.69 | |
| Adj R-sq | 0.0436 | |
| Wald test P-value | 0.015 | |
| Observations | 90,583 | 90,583 |
*** P < 0.01, ** P < 0.05, * P < 0.1
