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)

1.142^***

(4.86)

1.179^***

(4.50)

1.088^***

(4.88)

1.179^***

(4.50)

Ln (hgdp)

0.313^***

(2.94)

0.966^***

(9.12)

0.313^***

(2.78)

0.597^***

(5.05)

0.307^***

(2.66)

0.825^***

(7.01)

0.313^***

(2.78)

0.597^***

(5.05)

Ln (hpgdp)

−0.095

(−0.35)

0.019

(0.06)

0.177

(0.71)

0.578^**

(1.98)

0.364

(1.73)

0.479

(1.57)

0.177

(0.71)

0.578^**

(1.98)

nr

−0.027^**

(−2.34)

0.025

(1.55)

−0.027^**

(−2.25)

0.009

(0.51)

−0.021

(−1.81)

0.048^***

(2.62)

−0.027^**

(−2.25)

0.009

(0.51)

htech

0.010

(0.74)

0.026^*

(1.82)

0.016

(1.16)

0.018

(1.16)

0.017

(1.43)

0.062^***

(4.10)

0.016

(1.16)

0.189

(1.16)

cc

0.386

(1.03)

0.697

(1.54)

ps

0.251

(1.17)

0.274

(0.95)

rq

−0.496

(−0.86)

0.615

(0.96)

va

−0.464

(−1.11)

−2.072^***

(−6.44)

bf

0.020

(1.26)

0.029

(1.55)

fnf

−0.024^*

(−1.91)

0.010

(0.74)

tf

−0.007

(−0.32)

−0.008

(−0.28)

rl

−0.634^***

(−2.90)

−0.198

(−0.75)

cul

0.157

(1.36)

−0.812^***

(−4.95)

constant

−38.956

(−5.32)

−18.742

(−4.44)

−42.942^***

(−4.75)

−14.234^***

(−2.96)

−41.836

(−5.13)

−20.497

(−4.39)

−32.384^***

(−4.87)

−19.323^***

(−5.75)

LR

18.92

0.0000

18.92

0.0000

19.33

0.0000

19.33

0.0000

16.03

0.0000

16.03

0.0000

17.60

0.0000

17.60

0.0000

W

137.18

137.18

117.79

117.79

66.53

66.53

103.21

103.21