固定效应

随机效应

固定效应

随机效应

Y02

−0.000923***

(−7.27)

0.00126***

(−8.85)

--

--

gray

--

--

−0.000262

(−1.01)

−0.000729**

(−2.37)

clean

--

--

−0.00246***

(−4.89)

−0.00250***

(−4.23)

lnPGDP

1.071***

(5.46)

−0.159

(−1.46)

1.175***

(6.05)

−0.157

(−1.46)

UR

1.915***

(3.40)

1.438***

(2.75)

1.681***

(3.01)

1.278**

(2.44)

IS

0.427*

(1.66)

0.977***

(4.14)

0.247

(0.96)

0.960***

(4.06)

ER

3.487

(1.58)

−0.851

(−0.32)

3.326

(1.54)

−1.244

(−0.48)

FDI

0.0603***

(2.94)

0.0634***

(2.58)

0.0631***

(3.14)

0.0638***

(2.61)

stock

0.137**

(2.57)

0.144***

(4.54)

0.172***

(3.24)

0.164***

(5.06)

_cons

--

12.09***

(8.87)

--

12.83***

(9.22)

rho

−0.0814

(−0.96)

0.273***

(4.02)

−0.132

(−1.54)

0.228***

(3.24)

LM-lag

7.248***

7.877***

LM-error

21.436***

20.603***

Robust LM-lag

6.127**

6.716***

Robust LM-error

20.314***

19.442***

LR-lag

19.50***

20.60***

LR-error

19.81***

20.73***

Hausman

−4.32

−3.33