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

Table 6

Results of replacing dependent variables.

VAR	(1)	(2)	(3)	(4)
	PE	PGDP	PE	PGDP
TIME × TREAT	−0.305	1.027	−0.178	0.754
	(0.071)	(0.134)	(0.070)	(0.122)
OIS			−0.006	−0.003
			(0.002)	(0.003)
SI			0.023	−0.034
			(0.009)	(0.015)
FDI			−0.175	0.053
			(0.036)	(0.064)
OPEN			0.003	−0.064
			(0.004)	(0.007)
EDU			0.086	−0.035
			(0.033)	(0.057)
CONS	−1.236	7.017	−0.823	11.598
	(0.093)	(0.175)	(0.461)	(0.803)
PROV	YES	YES	YES	YES
YEAR	YES	YES	YES	YES
N	300	300	300	300
R^2	0.949	0.967	0.957	0.977