(1)

VARIABLES

zhzs

did

0.043**

(2.25)

gov

−0.250*

(−1.72)

infra

0.006

(0.34)

info

0.17

(0.71)

hum

0.046**

(1.41)

fin

0.039***

(3.02)

Constant

−0.435**

(2.31)

Observations

341

Number of ID

31

R-squared

0.474