模型及方法

FD-GMM (1)

FD-GMM (2)

FD-GMM (3)

FD-GMM (4)

Culit

0.832^*** (101.24)

0.899^*** (72.15)

0.732^*** (42.14)

0.741^*** (43.18)

Labit

0.070^*** (20.14)

0.038^*** (7.13)

0.033^*** (5.32)

0.037^*** (5.48)

Kit

-

0.058^** (2.10)

0.200^*** (5.32)

0.159^*** (3.28)

Openit

-

-

0.024^*** (2.48)

0.020^*** (2.11)

Polit

-

-

-

0.077^*** (9.25)

-cons

0.340^** (2.22)

−0.010 (-0.07)

−0.222^** (-2.21)

−0.130 (-1.01)

N

310

310

310

AR(1)

0.001

0.001

0.002

0.002

AR(2)

0.284

0.812

0.732

0.803

Sar test

0.404

0.508

0.804

0.917