Table 11.
IV estimations.
| (1) | (2) | |
|---|---|---|
| DFI*Post13 | PM 2.5 | |
| IV*Post13 | 0.3910*** | |
| (0.1192) | ||
| DFI*Post13 | −0.5127*** | |
| (0.1638) | ||
| First-stage F value | 10.7570 | |
| Cragg-Donald Wald F statistic | 72.0772 | |
| Kleibergen-Paap rk LM statistic | 3.5614 | |
| P-value | 0.0591 | |
| Baseline controls | Yes | Yes |
| City FE | Yes | Yes |
| Year FE | Yes | Yes |
| Province-by-year FE | Yes | Yes |
| N | 1921 | 1921 |
***
represent the significant levels of 1%. Parentheses indicate standard errors clustered at the city level. The baseline control variables are consistent with column (4) in Table 2.