变量

${\text{IP}}_{t_0}$

${\text{IP}}_{t_1}$

模型5

模型6

模型7

模型8

模型9

模型10

OA

1.819^***

1.451^***

1.378^***

2.865^***

2.462^***

2.017^***

(5.814)

(4.678)

(4.416)

(7.075)

(6.111)

(4.997)

IN

2.640^***

2.048^***

2.075^***

3.120^***

2.471^***

2.634^***

(50.18)

(32.33)

(32.13)

(45.83)

(30.05)

(31.54)

PA3

0.919^***

0.887^***

0.889^***

0.765^***

0.730^***

0.746^***

(118.5)

(112.0)

(111.0)

(76.23)

(70.98)

(71.97)

NS

0.0884^***

0.0757^***

0.0751^***

0.108^***

0.0943^***

0.0903^***

(3.290)

(2.849)

(2.824)

(3.113)

(2.734)

(2.628)

ND

43,743^***

40,206^***

40,534^***

71,624^***

67,744^***

69,746^***

(3.243)

(3.013)

(3.038)

(4.103)

(3.910)

(4.042)

EO

−366.6^***

−324.3^***

−319.7^***

−528.8^***

−482.5^***

−454.1^***

(−13.86)

(−12.34)

(−12.12)

(−15.45)

(−14.14)

(−13.32)

RO

−406.8^***

−363.1^***

−358.4^***

−585.7^***

−537.8^***

−509.4^***

(−14.93)

(−13.41)

(−13.19)

(−16.61)

(−15.30)

(−14.50)

G

−416.8^***

−374.0^***

−367.2^***

−597.8^***

−550.9^***

−509.2^***

(−11.75)

(−10.63)

(−10.39)

(−13.02)

(−12.06)

(−11.14)

BC

0.0311^***

0.0350^***

0.0341^***

0.0578^***

(16.38)

(13.28)

(13.84)

(16.96)

BC2

−5.17e−08^**

−3.15e−07^***

(−2.130)

(−10.02)

Constant

12.12

21.50

15.84

3.969

14.26

−20.17

(0.116)

(0.207)

(0.153)

(0.0292)

(0.106)

(−0.150)

Observations

12,062

12,062

12,062

12,062

12,062

12,062

R-squared

0.723

0.729

0.729

0.580

0.587

0.590

Ajusted R2

0.590

0.590

0.590

0.590

0.590

0.590