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

Table 7

Results of changing econometric model.

VAR	(1)	(2)	(3)	(4)
	CO2	TFP	CO2	TFP
TIME × TREAT	−0.189	0.346	−0.151	0.213
	(0.026)	(0.047)	(0.026)	(0.046)
OIS			−0.003	0.003
			(0.001)	(0.001)
SI			0.009	−0.020
			(0.003)	(0.006)
FDI			−0.045	0.057
			(0.013)	(0.024)
OPEN			−0.003	−0.016
			(0.001)	(0.003)
EDU			0.050	−0.063
			(0.012)	(0.021)
CONS	7.790	2.164	8.063	2.945
	(0.034)	(0.062)	(0.169)	(0.300)
PROV	YES	YES	YES	YES
YEAR	YES	YES	YES	YES
N	300	300	300	300