Research Article

Digital Economy’s Spatial Implications on Urban Innovation and Its Threshold: Evidence from China

Table 3

Results of spatial econometric analysis for impact of the digital economy on urban economy.

VariableOLSSARSEMSDM
REIndividual-FEYear-FEIndividual-year-FE
(1)(2)(3)(4)(5)(6)(7)

DE1.691∗∗∗0.564∗∗∗1.157∗∗∗1.102∗∗∗0.961∗∗∗1.414∗∗∗0.961∗∗∗
(8.37)(3.46)(6.52)(6.21)(5.47)(6.75)(5.19)

lnED0.118∗∗∗0.056∗∗0.115∗∗∗0.157∗∗∗0.114∗∗∗0.130∗∗∗0.114∗∗∗
(3.78)(1.99)(3.41)(4.86)(3.35)(3.92)(3.18)

lnPS0.111−0.191∗∗−0.177∗∗0.096∗∗∗−0.1190.050∗∗−0.119
(1.26)(−2.37)(−2.19)(3.48)(−1.51)(2.23)(−1.43)

lnFII0.002−0.013−0.016−0.018∗−0.008−0.046∗∗∗−0.008
(0.15)(−1.39)(−1.64)(−1.82)(−0.89)(−3.43)(−0.84)

lnIL−0.0020.0100.0140.0180.0140.059∗∗∗0.014
(−0.12)(0.89)(1.15)(1.62)(1.28)(4.74)(1.22)

lnWL0.365∗∗∗0.137∗∗∗0.466∗∗∗0.355∗∗∗0.408∗∗∗0.101∗0.408∗∗∗
(6.73)(3.43)(10.33)(7.08)(8.16)(1.90)(7.74)

lnRC0.251∗∗0.260∗∗∗0.199∗∗0.149∗0.208∗∗0.320∗∗∗0.208∗∗
(2.42)(2.75)(2.10)(1.86)(2.31)(5.54)(2.19)

UL0.005∗∗∗0.004∗∗0.007∗∗∗0.007∗∗∗0.006∗∗∗0.005∗∗∗0.006∗∗∗
(3.00)(2.30)(4.21)(5.94)(3.61)(6.55)(3.43)

lnFD0.150∗∗∗0.107∗∗∗0.229∗∗∗0.316∗∗∗0.205∗∗∗0.392∗∗∗0.205∗∗∗
(3.68)(3.07)(6.15)(10.11)(5.73)(14.73)(5.44)

lnFOI0.022∗0.026∗∗0.0120.034∗∗∗0.0150.113∗∗∗0.015
(1.78)(2.33)(1.03)(2.97)(1.31)(12.17)(1.25)

Wx_DE−0.3380.671∗1.928∗∗∗0.671∗
(−0.95)(1.87)(3.73)(1.78)

Wx_lnED−0.195∗∗∗−0.194∗∗∗−0.075−0.194∗∗∗
(−2.93)(−2.85)(−0.87)(−2.70)

Wx_lnPS0.0301.257∗∗∗−0.0881.257∗∗∗
(0.47)(5.74)(−1.60)(5.45)

Wx_lnFII0.046∗∗0.045∗∗−0.0250.045∗∗
(2.27)(2.19)(−0.80)(2.08)

Wx_lnIL−0.064∗∗−0.058∗−0.016−0.058∗
(−2.13)(−1.88)(−0.46)(−1.78)

Wx_lnWL−0.366∗∗∗−0.303∗∗∗0.676∗∗∗−0.303∗∗∗
(−4.03)(−3.07)(5.13)(−2.91)

Wx_lnRC−0.0190.804∗∗∗0.281∗∗0.804∗∗∗
(−0.10)(2.90)(2.20)(2.75)

Wx_UL−0.002−0.006∗−0.001−0.006
(−0.86)(−1.69)(−0.31)(−1.60)

Wx_lnFD−0.221∗∗∗−0.408∗∗∗−0.382∗∗∗−0.408∗∗∗
(−3.23)(−4.85)(−6.00)(−4.60)

Wx_lnFOI0.0080.029−0.096∗∗∗0.029
(0.33)(1.07)(−4.32)(1.01)

Rho/lambda0.640∗∗∗0.743∗∗∗0.748∗∗∗0.696∗∗∗0.695∗∗∗0.696∗∗∗
(26.87)(30.77)(34.34)(29.14)(30.07)(27.64)

Individual-FEYesYesYesNoYesNoYes
Year-FEYesYesYesNoNoYesYes
Adj. R-sq0.70900.68580.69040.69020.71020.68370.7102
N3370303330333370337033703033

Note. ∗∗∗, ∗∗, and ∗ represent the significance level at the 1%, 5%, and 10% levels, respectively. The numbers in brackets are the test values t.