Table 7. The intermediary model results of digital economy.
| Variables | (1) | (2) | (3) | (4) | (5) | (6) |
|---|---|---|---|---|---|---|
| hqe | digit | hqe | hqe | digit | hqe | |
| cd | 0.3411*** a (0.0604) b |
0.4492*** (0.1315) |
0.0456** (0.0196) |
|
|
|
| cs |
|
|
|
0.4558*** (0.0375) |
0.7039*** (0.0518) |
-0.0193 (0.0168) |
| digit |
|
|
0.6578*** (0.0118) |
|
|
0.6749*** (0.0142) |
| open | 0.0041*** (0.0009) |
0.0020* (0.0011) |
0.0027*** (0.0003) |
0.0029*** (0.0008) |
0.0003 (0.0012) |
0.0028*** (0.0003) |
| basein | -0.0002 (0.0205) |
-0.0029*** (0.0421) |
0.0017 (0.0064) |
0.0485*** (0.0171) |
0.0648*** (0.0237) |
0.0048 (0.0063) |
| govern | 0.1154*** (0.0259) |
0.2101*** (0.0686) |
-0.0228** (0.0085) |
0.0272 (0.0235) |
0.0762** (0.0324) |
-0.0242*** (0.0086) |
| constant | -0.1874** (0.0787) |
-0.5683*** (0.1698) |
0.1864*** (0.0256) |
0.0499 (0.0688) |
-0.2193** (0.0952) |
0.1981*** (0.0251) |
| R 2 | 0.4109 | 0.3854 | 0.8975 | 0.3885 | 0.4266 | 0.9043 |
a *, **, *** indicate a significance level of 10%, 5% and 1%, respectively.
b Values in () are standard errors.