Does Industrial Agglomeration Promote Carbon Efficiency? A Spatial Econometric Analysis and Fractional-Order Grey Forecasting

Table 8

Direct and indirect effects of the SDM model.

Explanatory variables	Effects
	Direct effects	Indirect effects
lnMA	0.0477	0.7610
	(6.05)	(3.05)
lnLPSA	−0.0128	1.0955
	(−1.27)	(2.30)
lnHPSA	0.0980	0.7468
	(8.06)	(1.39)
lnLSA	−0.0316	0.2567
	(−3.15)	(0.59)
lnLC	0.2931	1.2854
	(27.87)	(3.32)
lnKC	0.5997	−1.7800
	(57.50)	(−4.71)
lnEC	0.0224	1.7800
	(2.06)	(3.41)
lnGOV	−0.1393	−1.8826
	(−12.99)	(−3.79)
lnFDI	0.0255	0.3102
	(8.69)	(4.11)

Note. The symbols , , and represent significance levels at 10%, 5%, and 1%, respectively; the values in parentheses are t statistics; log-lik is log-likelihood.