Table 4 Robustness test
Variables | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
Excluded | Lag1 | Lag2 | Lag3 | |
lnGIPC | 0.050*** | Â | Â | Â |
| Â | (4.60) | Â | Â | Â |
L1_lnGIPC | Â | 0.050*** | Â | Â |
| Â | Â | (4.55) | Â | Â |
L2_lnGIPC | Â | Â | 0.053*** | Â |
| Â | Â | Â | (5.00) | Â |
L3_lnGIPC | Â | Â | Â | 0.049*** |
| Â | Â | Â | Â | (4.22) |
Constant | 4.526*** | 4.893*** | 4.417*** | 3.669*** |
| Â | (4.52) | (5.32) | (4.86) | (3.94) |
Observations | 3204 | 3146 | 2860 | 2574 |
R-squared | 0.445 | 0.440 | 0.428 | 0.390 |
Number of citycode | 267 | 286 | 286 | 286 |
City FE | Yes | Yes | Yes | Yes |
Time FE | Yes | Yes | Yes | Yes |