Market Integration and Regional Innovation in China: Evidence from the Yangtze River Delta Region

Table 7

Robust test.

	Static panel		Dynamic panel
	Pool OLS	Panel FE	DIF-GMM	SYS-GMM
L1.lnRI			0.386 (0.037)	0.325 (0.042)
lnMI	0.425(0.139)	0.296 (0.150)	0.175 (0.175)	0.126 (0.058)
lnGOV	0.260(0.102)	0.113 (0.166)	0.111 (0.052)	0.329 (0.259)
lnPTI	−0.523(0.279)	−0.230 (0.393)	−0.093 (0.211)	0.266 (0.305)
lnINT	0.510(0.065)	0.658 (0.116)	0.261 (0.035)	0.151 (0.050)
lnFDI	−0.026(0.052)	−0.029 (0.091)	0.201 (0.030)	0.069 (0.038)
lnGDP	1.143(0.108)	1.210 (0.269)	0.218 (0.089)	0.633 (0.087)
lnTR	0.491(0.087)	0.026 (0.269)	0.355 (0.117)	0.063 (0.164)
Cons	−22.157(1.315)	−22.781 (3.077)	−7.960 (1.368)	−13.385 (1.484)
R^2	0.732	0.689
Wald test			5705.01	2241.74
			(0.000)	(0.000)
AR(1)			0.078	0.064
AR(2)			0.860	0.870
Sargan test			25.911	25.772
			(0.209)	(1.000)

, , and indicate that the coefficients are statistically significant at 10%, 5%, and 1% levels, respectively.