萌芽期

发展期

成熟期

变量

curin1

curin2

curin3

gdp

0.013^*

(1.86)

0.026^***

(3.34)

0.871^***

(10.56)

exp

−0.002^**

(−2.40)

−0.033^***

(−6.56)

−0.102^***

(−2.58)

imp

0.002

(1.63)

0.026^***

(6.45)

0.034

(0.90)

iip

0.006^***

(4.68)

0.061^***

(4.19)

0.534^***

(9.38)

fin

−0.000

(−0.64)

−0.003^***

(−2.63)

−0.107^***

(−8.01)

inf

−0.008^***

(−11.65)

−0.004

(−0.32)

0.078

(1.29)

exch

0.004^**

(2.15)

0.029^***

(2.88)

−0.126^**

(−2.44)

back

0.887^***

(48.09)

0.955^***

(27.55)

0.795^***

(38.63)

Constant

0.085^**

(2.54)

0.572^**

(2.54)

12.810^***

(6.67)

Wald chi2

8363.75

11176.63

93083.41

Prob > chi2

0.0000

0.0000

0.0000