Threshold Effect of Financial System on High-Quality Economic Development

Table 8

Parameter estimation results with economic development level as threshold variable.

Variable	Linear regression	Threshold regression
C	8.50930^∗∗∗; (6.13)	5.31708^∗∗∗; (4.28)
AGDP	0.98866^∗∗∗; (14.21)	−
AGDP ≤	—	1.11002^∗∗∗; (18.04)
AGDP	—	0.69167^∗∗∗; (10.34)
ITR	0.11457; (0.21)	0.24819; (0.52)
PGR	0.23555^∗∗; (2.98)	0.13366; (1.93)
UBR	18.52061^∗∗∗; (6.35)	10.14204^∗∗∗; (3.81)
IDR	−4.31029^∗∗; (−2.91)	−3.84063^∗∗; (−2.98)
F	2.57	3.27

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