Industrial Demand and Innovation: An Application of Binomial Regression Model to Project Statistics of NSFC of China

Table 5

Panel estimation.

Explained variable:	The total number of approved projects
The total number of approved projects	Random effect (1)	Random effect (2)	Fixed effect (1)	Fixed effect (2)
ln (Pa)	0.504	0.510	0.776	0.410
	(0.326)	(0.127)	（0.398）	(0.189)
ln (Ph + Pd)	0.212	0.641	0.897	0.844
	(0.276)	(0.462)	（0.404）	(0.437)
	0.008		0.554
	(0.290)		（0.132）
ln (Pm)		0.550		0.510
		(0.204)		(0.221)
ln (Ar)	0.153	0.159	0.218	0.322
	(0.091)	(0.091)	（0.090）	(0.065)
Constant term	−8.922	−4.261
	(1.930)	(2.660)
N	483	483	483	483

Data source: National Natural Science Foundation of China.