Research Article
Threshold Effect of Financial System on High-Quality Economic Development
Table 7
Parameter estimation results with financial system as threshold variable.
| Variable | Linear regression | Threshold regression |
| C | 2.04702 (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) | PGR | 0.31080∗∗ (3.04) | 0.19427∗∗ (2.09) | UBR | 8.55228∗∗ (3.10) | 9.74416∗∗∗ (3.92) | IDR | −10.98957∗∗∗ (−6.04) | −9.06780∗∗∗ (−5.48) | F | 2.11 | 2.69 |
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Note. ∗, ∗∗, and ∗∗∗ mean passing the significance test at the level of 10%, 5%, and 1%, respectively, and statistics of t are in brackets.
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