Table 2.
Benchmark regression results.
| Variable | (1) | (2) | (3) | (4) | (5) | (6) |
|---|---|---|---|---|---|---|
| lnPM2.5 | lnPM2.5 | lnPM2.5 | lnPM2.5 | lnPM2.5 | lnPM2.5 | |
| LCCP | −0.0740 ** | −0.0670 ** | −0.0883 *** | −0.1040 *** | −0.0763 *** | −0.1429 *** |
| (−2.42) | (−2.09) | (−2.77) | (−3.37) | (−2.66) | (−1.88) | |
| lnRGDP | −0.0082 | −0.0511 *** | −0.0743 *** | −0.0866 *** | −0.1558 *** | |
| (−0.72) | (−4.12) | (−6.16) | (−6.68) | (−9.38) | ||
| lnHUM | −0.0546 *** | −0.0297 *** | −0.0520 *** | −0.0611 *** | ||
| (−8.19) | (−4.51) | (−8.44) | (−9.70) | |||
| lnFDI | 0.1077 *** | 0.1113 *** | 0.1143 *** | |||
| (17.74) | (19.74) | (20.29) | ||||
| lnFIN | −0.4540 *** | −0.4453 *** | ||||
| (−24.60) | (−24.15) | |||||
| lnINFOR | −0.0843 *** | |||||
| (−6.59) | ||||||
| Cons | 3.5088 *** | 3.5936 *** | 4.0497 *** | 4.2742 *** | 2.4586 *** | 1.5450 *** |
| (41.39) | (30.60) | (31.37) | (34.09) | (17.85) | (7.94) | |
| Time-fixed | Yes | Yes | Yes | Yes | Yes | Yes |
| City-fixed | Yes | Yes | Yes | Yes | Yes | Yes |
| N | 3780 | 3780 | 3779 | 3736 | 3736 | 3727 |
| R2 | 0.002 | 0.002 | 0.019 | 0.095 | 0.221 | 0.231 |
| F | 5.870 | 3.197 | 24.54 | 97.81 | 211.9 | 186.2 |
Note: ** and *** indicate significance at the 5% and 1% levels respectively. Z-values are in parentheses.