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

Note. Standard errors are stated in parentheses below point estimates. 1%, 5%, and 10% significance levels.