变量

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

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

模型17

模型18

模型19

模型20

OA

1.819^***

1.485^***

2.865^***

2.402^***

(5.814)

(4.799)

(7.075)

(6.007)

IN

2.640^***

1.544^***

3.120^***

1.600^***

(50.18)

(19.00)

(45.83)

(15.24)

PA3

0.919^***

0.892^***

0.765^***

0.728^***

(118.5)

(114.1)

(76.23)

(72.09)

NS

0.0884^***

0.0918^***

0.108^***

0.113^***

(3.290)

(3.460)

(3.113)

(3.295)

ND

43,743^***

50,252^***

71,624^***

80,655^***

(3.243)

(3.771)

(4.103)

(4.685)

EO

−366.6^***

−318.7^***

−528.8^***

−462.4^***

(−13.86)

(−12.14)

(−15.45)

(−13.63)

RO

−406.8^***

−361.1^***

−585.7^***

−522.4^***

(−14.93)

(−13.36)

(−16.61)

(−14.96)

G

−416.8^***

−360.1^***

−597.8^***

−519.1^***

(−11.75)

(−10.23)

(−13.02)

(−11.42)

DC

28.67^***

39.78^***

(17.53)

(18.82)

Constant

12.12

−98.90

3.969

−150.0

(0.116)

(−0.953)

(0.0292)

(−1.119)

Observations

12,062

12,062

12,062

12,062

R-squared

0.723

0.730

0.580

0.592

Ajusted R2

0.592

0.592

0.592

0.592