Impact of Global Value Chain Embedding on Total-Factor Energy Productivity of Chinese Industrial Sectors

Table 4

Regression results.

Variables	Index	GVC	GVC_S	GVC_C
GVC participation		12.5704	5.0510	46.1198
		(1.5750)	(0.3853)	(2.3626)
		−30.6157	−36.7576	−72.6892
		(−3.7527)	(−2.8176)	(−4.0474)
EX		0.5293	0.7227	0.5620
		(2.1006)	(2.6010)	(1.6570)
		−1.9800	−2.3577	−1.5121
		(−3.1094)	(−3.1786)	(−2.0465)
FDI		−0.2794	0.0780	−0.0829
		(−0.4641)	(0.1484)	(−0.1209)
		4.0035	3.8153	3.4186
		(4.0065)	(3.5004)	(3.0739)
LnK		0.1118	0.0711	0.0844
		(0.9911)	(0.6599)	(0.7016)
		−0.3757	−0.3479	−0.3419
		(−3.0804)	(−2.7774)	(−2.5059)
LnL		−0.3172^∗	−0.5296	−0.3319
		(−1.9272)	(−3.2103)	(−2.1628)
		−0.0068	0.2447	−0.0520
		(−0.0355)	(1.2783)	(−0.2913)
	c1	5.0163	5.0955	5.0589
	γ1	2.964	1.4024	4.7395
	RSS	953.749	980.776	963.547
	AIC	1.637	1.665	1.647
	BIC	1.822	1.850	1.832

Note. t statistics in parentheses, .