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Table 11 D-I-D estimation results: Interest rate liberalization and financial development

From: Fintech, regtech, and financial development: evidence from China

Variables

(1)

(2)

(3)

(4)

(5)

(6)

(\({FD}_{(D)}\))

(\({FD}_{(D)}\))

(\({FD}_{(S)}\))

(\({FD}_{(s)}\))

(\({FD}_{(A)}\))

(\({FD}_{(A)}\))

\(IRL\)

0.804***

(0.000)

0.697***

(0.000)

0.799***

(0.000)

0.721***

(0.000)

0.948***

(0.000)

0.843***

(0.000)

\(GDPpc\)

 

0.193***

(0.000)

 

0.133***

(0.000)

 

0.200***

(0.000)

\(IND\)

 

0.061*

(0.056)

 

0.031

(0.205)

 

0.157

(0.152)

\(FOP\)

 

0.002

(0.706)

 

-0.002

(0.637)

 

0.007

(0.379)

Constant

16.352***

(0.000)

14.161***

(0.000)

15.750***

(0.000)

14.341***

(0.000)

15.844***

(0.000)

13.152***

(0.000)

Observations

2,312

2,242

2,312

2,242

2,312

2,242

R-squared

0.912

0.922

0.897

0.900

0.781

0.791

Number of id

289

282

289

282

289

282

City FE

      

Year FE

      
  1. P values are shown in parentheses
  2. ***, **, and *, significance at 1%, 5%, and 10% levels, respectively