Research Article
Does Infrastructure Improve Residents’ Consumption? Evidence from China’s New-Generation Infrastructure
Table 6
Mediation test (NIC in narrow sense).
| | Variable | Expenditure | Industry | Expenditure | Upgrade | Industry | Upgrade | | (1) | (2) | (3) | (4) | (5) | (6) |
| | Narrow | 0.1365 (10.32) | 0.0283 (5.14) | 0.1242 (9.31) | 0.0075 (3.50) | 0.0283 (5.14) | 0.0051 (2.39) | | Industry | | | 0.4355 (4.25) | | | 0.0840 (5.10) | | URB | 0.0049 (3.93) | 0.0024 (4.64) | 0.0038 (3.07) | 0.0010 (4.95) | 0.0024 (4.64) | 0.0008 (3.96) | | PGDP | 0.0979 (12.91) | 0.0316 (10.01) | 0.0842 (10.34) | 0.0021 (1.68) | 0.0316 (10.01) | −0.0006 (−0.45) | | FDI | −0.5955 (−5.06) | −0.0022 (−0.05) | −0.5946 (−5.13) | −0.0691 (−3.63) | −0.0022 (−0.05) | −0.0689 (−3.70) | | Market | 0.1875 (2.86) | −0.0985 (−3.61) | 0.2304 (3.53) | 0.01524 (1.44) | −0.0985 (−3.61) | 0.0235 (2.24) | | GOV | 0.7984 (4.89) | −0.1026 (−1.51) | 0.8431 (5.24) | 0.1094 (4.14) | −0.1026 (−1.51) | 0.1180 (4.56) | | CONS | 8.0678 (106.87) | 1.9317 (61.49) | 7.2267 (34.18) | 0.2707 (22.14) | 1.9317 (61.49) | 0.1085 (3.19) | | Individual/time effect | Yes | Yes | Yes | Yes | Yes | Yes | | R2 | 0.8303 | 0.6742 | 0.8359 | 0.3929 | 0.6742 | 0.4212 | | N | 540 | 540 | 540 | 540 | 540 | 540 |
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Note. T-statistics are shown in parentheses. , , indicate 1%, 5%, 10% respectively. |
