Research Article
Research on the Impact of Technological Finance on Financial Stability: Based on the Perspective of High-Quality Economic Growth
Table 11
Estimated results running system GMM.
| | | h_lnx1 | h_lnm | h_lnx2 |
| | Lh_lnx1 | 1.06995(0.07144) | −0.05088(0.05165) | −0.06042(0.08648) | | Lh_lnm | −0.15290(0.09043) | 0.64469(0.05654) | −0.10045(0.08741) | | Lh_lnx2 | 0.09091(0.09984) | 0.18172(0.08250) | 0.92139(0.13921) | | L2h_lnx1 | −0.13361(0.03716) | 0.01905(0.03305) | 0.04137(0.03973) | | L2 h_lnm | 0.00052(0.02094) | 0.02127(0.01112) | −0.02587(0.01780) | | L2h_lnx2 | 0.09739(0.08234) | −0.06052(0.07237) | −0.26380(0.12178) | | L3h_lnx1 | −0.09887(0.01927) | −0.01716(0.01741) | 0.00695(0.02313) | | L3 h_lnm | 0.03853(0.01592) | 0.01821(0.01340) | 0.07105(0.01963) | | L3h_lnx2 | −0.30348(0.06751) | 0.08979(0.06361) | 0.05351(0.10031) | | L4h_lnx1 | −0.03741(0.01611) | −0.00598(0.01301) | −0.04129(0.02018) | | L4 Lh_lnm | 0.02150(0.01887) | −0.01019(0.01139) | −0.00199(0.02411) | | L4h_lnx2 | 0.18438(0.05134) | −0.04623(0.04635) | −0.00593(0.06092) |
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Note: , and represent, respectively, passing 10%, 5%, and 1% significance level test. The bracketed figure is the Z statistic value. |
