Research Article
Does Infrastructure Improve Residents’ Consumption? Evidence from China’s New-Generation Infrastructure
Table 7
Mediation test (NIC in broad sense).
| | Variable | Expenditure | Industry | Expenditure | Upgrade | Industry | Upgrade | | (1) | (2) | (3) | (4) | (5) | (6) |
| | Broad | 0.2142 (18.76) | 0.0338 (6.11) | 0.2060 (17.54) | 0.0127 (5.96) | 0.0338 (6.11) | 0.0102 (4.73) | | Industry | | | 0.2445 (2.75) | | | 0.0727 (4.44) | | URB | 0.0080 (7.51) | 0.0029 (5.59) | 0.0073 (6.70) | 0.0012 (5.93) | 0.0029 (5.59) | 0.0010 (4.82) | | PGDP | 0.0756 (11.39) | 0.029 (8.98) | 0.0685 (9.68) | 0.0007 (0.53) | 0.0289 (8.98) | −0.0014 (−1.10) | | FDI | −0.1950 (−1.92) | 0.0629 (1.27) | −0.2104 (−2.08) | −0.0455 (−2.40) | 0.0629 (1.27) | −0.0501 (−2.68) | | Market | −0.1693 (−2.79) | −0.1369 (−4.65) | −0.1358 (−2.21) | −0.0075 (−0.66) | −0.1369 (−4.65) | 0.0024 (0.21) | | GOV | 0.4274 (3.06) | −0.1639 (−2.42) | 0.4675 (3.35) | 0.0876 (3.36) | −0.1639 (−2.42) | 0.0995 (3.86) | | CONS | 7.1628 (79.55) | 1.8177 (41.65) | 6.7184 (36.40) | 0.2145 (12.77) | 1.8177 (41.65) | 0.0823 (2.42) | | Individual/time effect | Yes | Yes | Yes | Yes | Yes | | | R2 | 0.8774 | 0.6804 | 0.8791 | 0.4178 | 0.6804 | 0.4386 | | N | 540 | 540 | 540 | 540 | 540 | 540 |
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Note. T-statistics are shown in parentheses. , , indicate 1%, 5%, 10% respectively. |
