Research Article
The Impact of Borrowing Debt on the Efficiency Loss of Municipal Infrastructure Investment and Construction
Table 10
Overall governance effects of borrowing debt.
| | Domestic issuance of bonds | International bank borrowing | All | Eastern | Central | Western | All | Eastern | Central | Western |
| Variable | 0.015 | −0.004 | 0.017 | 0.037 | 0.008 | −0.003 | 0.021 | 0.012 | [8.044] | [−1.599] | [5.498] | [9.753] | [4.290] | [−1.256] | [6.824] | [3.073] | Cons | 2.283 | 2.828 | 2.288 | 2.276 | 2.284 | 2.283 | 2.28 | 2.29 | [2090.07] | [1532.40] | [1174.17] | [945.57] | [1661.65] | [1036.66] | [1008.62] | [846.82] | Adj-R2 | 0.13 | 0.01 | 0.17 | 0.43 | 0.09 | 0.01 | 0.15 | 0.12 |
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Note. indicate that the levels of 1% are significant, and the value of t is in square brackets. |