Research Article

Threshold Effect of Financial System on High-Quality Economic Development

Table 7

Parameter estimation results with financial system as threshold variable.

VariableLinear regressionThreshold regression

C2.04702
(1.20)
0.25270
(0.17)
FCF−0.89802
(−1.98)
FCF ≤ 8.22193∗∗
(2.45)
 < FCF ≤ 39.87714∗∗∗
(8.60)
FCF > −0.49330∗∗∗
(−2.84)
ITR−1.36559
(−1.97)
−0.89511
(−1.41)
PGR0.31080∗∗
(3.04)
0.19427∗∗
(2.09)
UBR8.55228∗∗
(3.10)
9.74416∗∗∗
(3.92)
IDR−10.98957∗∗∗
(−6.04)
−9.06780∗∗∗
(−5.48)
F2.112.69

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