Table 8.
Estimations of 2SLS based on spatial multi-level analysis
| Prefectural level | Provincial level | |
|---|---|---|
| FDI | − 0.067** | |
| Trade | 0.053** | |
| Coastal_City | 0.029 | |
| IEPF | 0.714** | |
| PPGT | 0.021** | |
| DLFE | 5.314** | |
| DLFR | 8.055 | |
| ETDZ | 0.673*** | |
| Central | 0.075** | |
| DLFE _Cent | 0.179 | |
| DLFR _Cent | 0.569*** | |
| ETDZ_Cent | 0.263*** | |
| SP_Cent | 0.213** | |
| R2 | 0.887 | |
| Adjusted R2 | 0.801 | |
| Instrumental variables | Log(area), 3-grp | |
| Sargan’s test | 1.000 | |
| Significance at first stage | 0.000*** | |
| Wu–Hausmann test | 0.003** | |
| Anselin–Kelejian test | 0.987 | |
*p < 0.1; ** p < 0.05; *** p < 0.01