Table 8. Regression results of the digital economy index and its three sub-indexes and regional interaction items.
| Variable | Dependent variable: total factor productivity (TFP) | |||||
|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | |
| Estimation method | FGLS | GEE | OLS | |||
| DEI | 0.4609*** | 0.2706*** | 0.4609*** | |||
| (10.29) | (11.98) | (9.95) | ||||
| INF | 0.2215*** | |||||
| (8.13) | ||||||
| DIND | 0.2251*** | |||||
| (3.37) | ||||||
| FUSE | 0.3744*** | |||||
| (8.51) | ||||||
| DEI*DUM | 0.0968*** | 0.0619*** | 0.0968*** | |||
| (1.27) | (1.90) | (1.22) | ||||
| INF*DUM | 0.0677*** | |||||
| (1.36) | ||||||
| DIND*DUM | -0.4376*** | |||||
| (-4.75) | ||||||
| FUSE*DUM | -0.2336*** | |||||
| (-3.64) | ||||||
| TP | 0.1815*** | 0.0631*** | 0.4583*** | 0.2748*** | 0.2647*** | 0.1815*** |
| (3.85) | (3.49) | (8.53) | (6.16) | (6.29) | (3.72) | |
| TD | 0.0305** | 0.0688*** | 0.0135* | 0.0034* | 0.0118** | 0.0305** |
| (1.75) | (3.96) | (0.71) | (0.20) | (0.79) | (1.69) | |
| FD | 0.0557*** | 0.0600*** | 0.0389*** | 0.0457*** | 0.01407** | 0.0562*** |
| (3.30) | (3.47) | (1.88) | (2.56) | (1.32) | (3.23) | |
| IS | 0.0377** | 0.1578** | 0.0246** | 0.0416** | 0.0177** | 0.0368** |
| (2.20) | (4.49) | (1.28) | (2.37) | (1.16) | (2.09) | |
| OPEN | 0.1060*** | 0.1230*** | 0.2692*** | 0.1924*** | 0.0093* | 0.1305*** |
| (3.13) | (3.07) | (5.18) | (4.90) | (0.31) | (3.25) | |
| RD | -0.0852*** | -0.0941*** | -0.0905*** | -0.0600*** | -0.0566** | -0.0823*** |
| (-3.39) | (-3.65) | (-2.96) | (-2.21) | (-2.50) | (-3.17) | |
| constant | 15.6321*** | 22.2824*** | 8.5929** | 14.4529*** | 24.8301*** | 15.6321*** |
| (6.78) | (12.52) | (2.67) | (7.15) | (12.99) | (6.55) | |
| Wald | 1784.56 | 1683.83 | 1144.91 | 1521.54 | 1037.92 | - |
| R2 | - | - | - | - | - | 0.9175 |
| N | 150 | 150 | 150 | 150 | 150 | 150 |
Note: The Z statistic values are in parentheses, and
***, **, * indicate significance at the levels of 1%, 5%, and 10%, respectively. The same applies to the following table.