Table 6.

Heterogeneity assessment.

Factors	(2)			(3)
	East	Central	West	2008–2013	2014–2020
L.EP	0.240	0.872***	0.820**	0.745***	0.975***
	(0.083)	(0.258)	(0.330)	(0.085)	(0.068)
DE	−0.204**	−0.089	−0.084	−0.274	−0.284***
	(0.057)	(0.098)	(0.295)	(0.283)	(0.072)
URB	−0.253	−0.040	−0.258	0.269**	2.605***
	(0.324)	(0.389)	(0.525)	(0.083)	(0.305)
EDU	0.000	0.006	0.024	−0.004	−0.087***
	(0.025)	(0.053)	(0.026)	(0.004)	(0.008)
FDI	0.022	−0.070	0.235	−0.008	−0.063
	(0.023)	(0.067)	(0.088)	(0.006)	(0.047)
IND	0.002	0.057	−0.008	−0.025	−0.203***
	(0.022)	(0.049)	(0.028)	(0.023)	(0.045)
_Cons	0.459**	0.033	0.060	0.206***	0.078
	(0.244)	(0.384)	(0.424)	(0.039)	(0.204)
AR(2)	2.327	−0.849	−2.709	−2.385	0.830
	[0.335]	[0.459]	[0.209]	[0.304]	[0.469]
Hansen	8.056	6.928	8.743	26.468	34.764
	[0.966]	[0.864]	[0.895]	[0.278]	[0.238]
N	243	209	230	260	320

Note: ***, ** and * represents the significance level at 1 %, 5 % and 10 % respectively.