Table 8.

Transmission mechanisms.

	(1)	(2)	(3)	(4)	(5)	(6)
	$tfp$	$lncb$	$sci$	$lncb$	$ais$	$lncb$
$ty$	0.869 ***	−0.047 ***	0.168 ***	−0.056 ***	0.092 *	−0.070 ***
	(0.044)	(0.008)	(0.010)	(0.008)	(0.051)	(0.007)
$tfp$		−0.027 ***
		(0.003)
$sci$				−0.089 ***
				(0.013)
$ais$						−0.008 ***
						(0.003)
$lngdp$	1.186 ***	−0.690 ***	0.015	−0.722 ***	−0.625 ***	−0.728 ***
	(0.077)	(0.013)	(0.018)	(0.013)	(0.089)	(0.013)
$hum$	9.312 ***	0.290 **	7.720 ***	0.719 ***	5.140 ***	0.077
	(0.825)	(0.139)	(0.192)	(0.170)	(0.951)	(0.138)
$urban$	1.404 ***	−0.025	0.258 ***	−0.041	−0.235	−0.066 **
	(0.201)	(0.033)	(0.047)	(0.033)	(0.232)	(0.033)
$finan$	0.076 ***	0.044 ***	−0.004	0.041 ***	0.014	0.042 ***
	(0.025)	(0.004)	(0.006)	(0.004)	(0.029)	(0.004)
$hr$	1.733	1.145 ***	5.785 ***	1.611 ***	9.934 ***	1.181 ***
	(1.915)	(0.315)	(0.445)	(0.326)	(2.208)	(0.320)
$inter$	−0.354 ***	0.011	−0.029 ***	0.019 **	0.057	0.022 ***
	(0.049)	(0.008)	(0.011)	(0.008)	(0.056)	(0.008)
_$cons$	−18.318 ***	18.646 ***	−0.152	19.136 ***	11.293 ***	19.245 ***
	(1.275)	(0.217)	(0.296)	(0.211)	(1.470)	(0.215)
Time effect	Yes	Yes	Yes	Yes	Yes	Yes
City effect	Yes	Yes	Yes	Yes	Yes	Yes
$N$	3288	3288	3288	3288	3288	3288
$R-sq$	0.806	0.985	0.970	0.985	0.804	0.985

Note: Standard errors are in parentheses, and ***, **, * denote significance at the levels of 1%, 5%, and 10%, respectively.