Research Article
Can Highway Networks Promote Productivity? Evidence from China
Table 8
Result of robustness check.
| | (1) | (2) | (3) | (4) | (5) | (6) | TFP | TFP | TFP | TFP_LP | TFP | TFP |
| Highway_mileage | 0.0110 | | | | | | (11.4146) | | | | | | Highway_density | | 0.0154 | | | | | | (9.6431) | | | | | Highway_per | | | 0.0142 | | | | | | (17.3571) | | | | Traveltime | | | | −0.1889 | −0.3673 | −0.2466 | | | | (−9.4952) | (−15.5392) | (−11.8179) | Age | 0.0648 | 0.0648 | 0.0648 | 0.0631 | 0.0505 | 0.0705 | (36.7299) | (36.7055) | (36.7167) | (32.7159) | (25.6216) | (37.5753) | Scale | 0.2261 | 0.2261 | 0.2260 | 0.2129 | 0.2481 | 0.2584 | (167.8115) | (167.8189) | (167.7204) | (154.6469) | (143.1076) | (178.6563) | Export | 0.0096 | 0.0096 | 0.0095 | 0.0021 | −0.0003 | −0.0282 | (3.7669) | (3.7863) | (3.7425) | (0.7853) | (−0.0736) | (−7.5324) | Own state | −0.0976 | −0.0983 | −0.0965 | −0.1087 | −0.1155 | −0.1157 | (−14.5739) | (−14.6778) | (−14.4209) | (−14.2069) | (−15.6602) | (−17.0196) | GDP | 0.1996 | 0.1995 | 0.1992 | 0.2005 | 0.0763 | 0.1813 | (29.7123) | (29.7042) | (29.7118) | (26.6719) | (11.0427) | (25.9467) | R&D | 0.0209 | 0.0210 | 0.0207 | 0.0215 | 0.0220 | 0.0284 | (15.4730) | (15.5692) | (15.3359) | (15.3309) | (11.1054) | (18.6328) | POP | 0.0089 | 0.0088 | 0.0088 | 0.0149 | 0.0338 | 0.0115 | (8.6940) | (8.5933) | (8.5869) | (14.2049) | (26.0262) | (10.2237) | FDI | 0.0224 | 0.0226 | 0.0218 | 0.0202 | 0.0135 | 0.0221 | (18.6117) | (18.7423) | (18.0795) | (15.5531) | (10.0532) | (17.2650) | Railway | −0.0552 | −0.0556 | −0.0557 | −0.0464 | −0.0366 | −0.0614 | (−10.9455) | (−11.0171) | (−11.0705) | (−9.1843) | (−4.0071) | (−10.3969) | Constant | −0.7429 | −0.7356 | −0.7467 | 0.9622 | 3.0707 | 1.3608 | (−13.7597) | (−13.6280) | (−13.8667) | (4.7820) | (13.0519) | (6.5098) | Firm fixed effect | Yes | Yes | Yes | Yes | Yes | Yes | Time fixed effect | Yes | Yes | Yes | Yes | Yes | Yes | N | 3,034,596 | 3,034,596 | 3,034,596 | 3,027,046 | 1,916,983 | 2,811,883 | R-squared | 0.0930 | 0.0930 | 0.0932 | 0.0820 | 0.1015 | 0.0906 |
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Note. Standard errors are stated in parentheses below point estimates. 1%, 5%, and 10% significance levels. |