Threshold Effect of Financial System on High-Quality Economic Development

Table 9

Parameter estimation results with infrastructure as threshold variable.

Variable	Linear regression	Threshold regression
C	1.45388; (0.86)	0.67535; (0.43)
RPC	0.40301^∗∗∗; (0.84)	−
RPC ≤	—	0.95535^∗∗∗; (6.01)
RPC	—	0.41434^∗∗; (3.31)
ITR	−1.08178; (−1.57)	−0.43531; (−0.69)
PGR	0.28699^∗∗; (2.80)	0.21791^∗; (2.31)
UBR	7.64281^∗; (2.17)	8.11976^∗; (2.52)
IDR	−10.23950^∗∗∗; (−5.64)	−9.09859^∗∗∗; (−5.46)
F	2.07	2.88

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