Human Capital and Rural Households’ Vulnerability to Relative Poverty: Evidence from China

Table 5

Endogeneity analysis.

	Fe	IV-FE	IV exogenesis test
HCindex	−0.521	−0.460		−0.527
	(0.008)	(0.023)		(0.008)
Village_HCindex			−0.442	−0.064
			(0.029)	(0.023)
Observations	11,471	11,471	11,471	11,471
Controls	Yes	Yes	Yes	Yes
Household FE	Yes	Yes	Yes	Yes
Year FE	Yes	Yes	Yes	Yes
Davidson-MacKinnon value		0.001
First stage F-stat		706.34
First stage T value		26.58

Note. Numbers in the parentheses represent robust standard error. Significance level:  < 0.1,  < 0.05, and  < 0.01.