Threshold Effect of Financial System on High-Quality Economic Development

Table 10

Parameter estimation results with industrial structure as threshold variable.

Variable	Linear regression	Threshold regression
C	0.19592; (0.12)	−1.59241; (−1.62)
IDL	0.66550^∗∗∗; (3.89)	−
IDL ≤	—	0.87571^∗∗∗; (7.24)
< IDL ≤	—	2.20076^∗∗∗; (17.84)
IDL >	−	0.42569^∗∗∗; (4.09)
ITR	−0.85190; (−1.26)	−0.65559; (−1.60)
PGR	0.26372^∗∗; (2.68)	0.19682^∗∗; (3.27)
UBR	7.80510^∗∗; (2.88)	9.43922^∗∗∗; (5.74)
IDR	−8.71465^∗∗∗; (−4.79)	−5.89060^∗∗∗; (−5.27)
F	2.52	6.83

Note. ∗, ∗∗, and ∗∗∗ mean passing the significance test at the level of 10%, 5%, and 1%, respectively, and statistics of t are in brackets.