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Table 1.

Variable name and description.

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Fig 1.

Mediation framework diagram.

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Table 2.

Descriptive statistics.

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Table 3.

Pairwise correlations.

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Table 4.

Regression results for Models 2 to 4.

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Table 5.

Results after re-measuring total factor productivity for Models 2 and 4.

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Table 6.

Test results for instrumental variable method.

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Table 7.

Results for Heckman two-step tests.

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Table 8.

Results for grouping test for Model 2, and those for Model 8.

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Table 8 Expand

Table 9.

Results for Heterogeneity discussion.

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