Emission Reduction Benefits and Economic Benefits of China’s Pilot Policy on Carbon Emission Trading System

Table 10

Results after excluding other policies.

VAR	(1)	(2)	(3)	(4)
	CO2	TFP	CO2	TFP
TIME × TREAT	−0.196	0.389	−0.134	0.187
	(0.040)	(0.059)	(0.044)	(0.064)
OIS			−0.003	0.005
			(0.001)	(0.001)
SI			0.010	−0.031
			(0.005)	(0.007)
FDI			−0.068	0.033
			(0.020)	(0.030)
OPEN			−0.003	−0.013
			(0.002)	(0.003)
EDU			0.056	−0.043
			(0.014)	(0.020)
CONS	7.865	2.031	8.156	2.971
	(0.038)	(0.056)	(0.236)	(0.346)
PROV	YES	YES	YES	YES
YEAR	YES	YES	YES	YES
N	216	216	216	216
R^2	0.989	0.828	0.991	0.860