解释变量

(4)

(4)’

$\ln \left(GD{P}_{it}\right)$

0.3675 ^***

(9.57)

0.3718^***

(9.69)

$\ln \left(GD{P}_{jt}\right)$

0.4009^***

(15.63)

0.3989^***

(15.53)

$\ln \left(GDP\_GRO{W}_{jt}\right)$

0.4230^***

(4.23)

0.4126^***

(−12.92)

$\ln \left(SO{E}_{it}\right)$

−0.2227^**

(−2.55)

−0.2152^**

(−2.45)

$\ln \left(DISTANC{E}_{ij}\right)$

−0.4015^***

(−12.70)

−0.4101^***

(−13.04)

$LANGUAG{E}_{ij}$

0.6223^***

(8.97)

0.6157^***

(8.83)

$ADJACEN{T}_{ij}$

0.2829^***

(7.23)

0.2743^***

(7.01)

$FT{A}_{ij}$

0.1286^***

(2.74)

0.1218^***

(2.63)

$\ln \left(TRADEOPE{N}_{it}\right)$

0.2093^***

(2.73)

0.2469^***

(3.35)

$\ln \left(FDIRESTRICTION{S}_{it}\right)$

−0.0699

(−1.43)

加权 $R^2$

0.3969

0.3943

样本数

1176

1176