Table 10.
Variable | Dynamic SDM(W1) | Dynamic SDM(W2) | Static SDM(W1) | Static SDM(W2) |
---|---|---|---|---|
L1_MILTC | 0.376*** (0.095) |
0.491*** (0.106) |
/ | / |
FD | 0.167*** (0.051) |
0.263** (0.121) |
0.543** (0.257) |
0.365** (0.181) |
ER | −0.115 (0.142) |
−0.074* (0.040) |
−0.155** (0.073) |
−0.083 (0.114) |
IND | 0.026* (0.014) |
0.031** (0.013) |
0.035 (0.105) |
0.048* (0.025) |
FIN | 0.147*** (0.032) |
0.162** (0.074) |
0.155** (0.071) |
0.176* (0.094) |
URB | 0.023 (0.015) |
0.034* (0.018) |
0.033 (0.021) |
0.045** (0.022) |
OPEN | 0.040 (0.035) |
0.057. (0.044) |
0.051 (0.040) |
0.069* (0.038) |
RD | 0.349*** (0.073) |
0.310* (0.171) |
0.405** (0.193) |
0.486** (0.232) |
POP | −0.017 (0.105) |
−0.052 (0.194) |
−0.028* (0.114) |
−0.076 (0.205) |
W × L1_MILTC | 0.134*** (0.037) |
0.175** (0.080) |
/ | / |
W × FD | −0.093*** (0.027) |
−0.064** (0.029) |
−0.104 (0.070) |
−0.128* (0.075) |
W × ER | 0.098* (0.054) |
0.076* (0.043) |
0.101 (0.068) |
0.122* (0.068) |
W × IND | 0.010** (0.005) |
0.003* (0.002) |
0.107 (0.091) |
0.042* (0.026) |
W × FIN | 0.011 (0.010) |
0.017 (0.015) |
0.008 (0.011) |
0.010 (0.016) |
W × URB | 0.127 (0.101) |
0.144* (0.081) |
0.155** (0.074) |
0.169* (0.095) |
W × OPEN | 0.019 (0.013) |
0.036** (0.017) |
0.104 (0.115) |
0.128* (0.072) |
W × RD | 0.102* (0.059) |
0.178** (0.080) |
0.155* (0.088) |
0.211** (0.095) |
W × POP | −0.223 (0.201) |
−0.164 (0.107) |
−0.304* (0.172) |
−0.254 (0.170) |
ρ | 0.203** (0.088) |
0.312** (0.140) |
0.198** (0.087) |
0.326*** (0.079) |
Adj.R2 | 0.558 | 0.512 | 0.476 | 0.440 |
Sigma2_e | 6.245*** (1.821) |
6.703*** (1.833) |
6.224*** (1.669) |
6.530*** (1.732) |
Obs | 1248 | 1248 | 1248 | 1248 |
Diagnostic test | Value | |||
Hausman test | 28.177*** | |||
AR (1) | −4.554*** | |||
AR (2) | −1.008 | |||
Sargan | 17.503 |
Notes: *, * * and * * * are significant at 10%, 5% and 1% levels, respectively. Standard errors are shown in parentheses.
ER: environmental regulation; FD: fiscal decentralisation; FIN: financial development; IND: industrial structure; FIN: financial development; MILTC: MIL productivity index to decompose into ecological efficiency change and technological progress change; POP: population density; SDM: spatial Durbin model; RD: research and development; URB: urbanisation level.