政治制度

经济制度

法律制度

文化制度

变量

投资选择

投资规模

投资选择

投资规模

投资选择

投资规模

投资选择

投资规模

Ln (cgdp)

0.646^***

(2.72)

0.854^**

(3.98)

0.720^***

(3.38)

0.688^***

(3.13)

Ln (hgdp)

0.170

(1.54)

0.463^***

(3.45)

0.055

(0.80)

0.612^***

(5.61)

0.076

(1.13)

0.507^***

(5.36)

0.097

(1.46)

0.550^***

(5.52)

Ln (hpgdp)

−0.229

(−1.36)

0.348

(1.52)

−0.094

(−0.70)

−0.434^**

(−2.14)

−0.109

(−0.87)

0.060

(0.36)

−0.029

(−0.20)

−0.310

(−1.47)

nr

0.004

(0.44)

0.043^***

(3.46)

0.003

(0.30)

0.031^**

(2.40)

0.005

(0.56)

0.033^***

(2.77)

−0.007

(−0.79)

0.031^**

(2.31)

htech

0.012

(0.42)

0.007

(0.40)

−0.001

(−0.07)

0.012

(0.58)

−0.0003

(−0.02)

0.014

(0.72)

0.008

(0.36)

0.010

(0.51)

cc

0.410

(0.80)

0.872

(1.35)

ps

0.584

(1.63)

−0.474

(−1.15)

rq

1.648^**

(2.02)

−2.959^***

(−4.25)

va

−0.626

(−1.37)

0.656

(1.37)

bf

0.009

(0.56)

0.037^*

(1.78)

fnf

−0.036^**

(−2.55)

0.046^***

(2.84)

tf

−0.016

(−0.72)

0.034^**

(2.27)

rl

−0.553^*

(−1.83)

−1.487^***

(−3.70)

cul

−0.308

(−1.39)

0.166

(0.60)

constant

−20.250^***

(−3.08)

−7.929^***

(−2.72)

−23.129^***

(−3.74)

−7.108^**

(−2.37)

−21.205^***

(−3.49)

−6.500^***

(−2.76)

−4.347^*

(−1.70)

−20.745^***

(−3.31)

LR

3.12

0.0772

3.12

0.0772

8.94

0.0028

8.94

0.0028

9.94

0.0016

9.94

0.0016

6.59

0.0102

6.59

0.0102

W

77.36

77.36

51.71

51.71

70.45

70.45

50.14

50.14