Institutional Environment and Green Economic Growth in China

Table 4

Effect of the subenvironments on green growth.

GTFP	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6
	GMM	GMM	GMM	GMM	GMM	GMM
L. GTFP	0.0942	0.0390	0.6793	0.5254	0.4947	0.4597
	(0.73)	(0.51)	(5.13)	(4.28)	(7.20)	(4.09)
GSE	−0.1305			1.6592
	(−2.45)			(1.89)
LSE		0.0627			0.2356
		(1.92)			(2.37)
CSE			0.0449			−0.1568
			(1.98)			(−2.63)
GSE^2				−0.1257
				(−2.03)
LSE^2					−0.0171
					(−2.11)
CSE^2						0.0211
						(3.58)
FDI	−16.2412	0.6968	−0.9655	−0.7689	−0.6856	−0.9687
	(−2.33)	(0.39)	(−0.39)	(−0.40)	(−1.04)	(−0.39)
EDU	0.1247	0.1319	0.0332	0.0065	0.0752	0.0545
	(2.00)	(3.49)	(1.24)	(0.22)	(5.22)	(1.39)
OPEN	1.1243	0.1264	−0.0089	0.1045	0.0066	−0.2137
	(2.34)	(0.77)	(−0.06)	(0.71)	(0.11)	(−1.44)
MARKET	−0.0260	−0.0476	−0.0024	0.0140	−0.0092	−0.0567
	(−1.23)	(−3.15)	(−0.21)	(0.75)	(−1.33)	(−3.21)
RD	−37.6598	−1.1538	−7.6374	−12.0741	−8.8985	1.2157
	(−1.96)	(−0.13)	(−0.76)	(−1.25)	(−1.93)	(0.14)
URBAN	−0.8960	0.2411	−0.3852	0.1973	−0.0657	−0.0799
	(−1.49)	(0.77)	(−0.75)	(0.74)	(−0.61)	(−0.53)
IS	1.0922	0.3489	0.1605	0.2450	0.3754	−0.1896
	(2.86)	(2.70)	(1.78)	(1.67)	(4.04)	(−1.23)
Constant	0.5281	−1.2660	−0.1792	−5.4638	−1.3280	0.6346
	(0.68)	(−2.82)	(−0.98)	(−1.73)	(−3.88)	(2.39)
Observations	480	480	480	480	480	480
Number of id	30	30	30	30	30	30
AR (1)	−2.222	−2.902	−2.420	−2.562	−2.454	−2.211
P-AR (1)	[0.026]	[0.004]	[0.016]	[0.010]	[0.014]	[0.027]
AR (2)	−0.299	−0.569	0.883	1.562	1.084	−0.582
P-AR (2)	[0.765]	[0.569]	[0.377]	[0.118]	[0.278]	[0.561]
Hansen	9.931	13.67	7.317	4.554	14.04	9.899
P-hansen	[0.356]	[0.135]	[0.292]	[0.473]	[0.447]	[0.272]

Note. t-statistics are presented in parentheses; p values are displayed in brackets or indicated as , , , , and , ; GMM: generalized method of moments.