地方政府债务人行为动机下的"同群效应"——基于空间计量模型的实证研究
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钟腾, 杨雪斌, 汪昌云
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The "Peer Effects" under the Behavioral Motives of Local Government Debtors: Empirical Research Based on Spatial Econometric Model
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Teng ZHONG, Xuebin YANG, Changyun WANG
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表3 相关因素对城投债发行的Logit和OLS回归
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| Logit | OLS | | 被解释变量 | debti, t | lndebt1 | | fgap | 0.0120
(0.1244) | 0.0006
(0.0023) | | shift_com | 4.1052
(2.6969) | 0.2091***
(0.0537) | | lnpgdp | -0.2510
(1.3111) | 0.1237***
(0.0139) | | gdpct2 | 0.0416
(0.0359) | -0.0046***
(0.0005) | | lnpdensity | 0.7788*
(0.4096) | 0.0241**
(0.0096) | | lnpfasset | -0.1594
(0.4332) | 0.0040
(0.0084) | | lnpfinvest | 0.1267
(0.1381) | -0.0019
(0.0030) | | gland | -3.5402
(2.5176) | -0.0116
(0.0220) | | constant | -
- | -1.3454***
(0.1099) | | 城市固定效应 | Y | Y | | 年份固定效应 | Y | Y | | N | 1533 | 1848 | | R2 | - | 0.2040 | | Number of id | 219 | 264 |
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