	(1)	(2)	(3)	(4)	(5)	(6)
VARIABLES	y1	Y1_7	Y1_7	Y1_7	Y1_7	Y1_7
						
IFDIproxy	0.0054***	0.0054***	0.0053***	0.0054***	0.0053***	0.0054***
	(0.0019)	(0.0020)	(0.0018)	(0.0018)	(0.0019)	(0.0018)
span			0.0021			0.0031
			(0.0039)			(0.0048)
posM				0.0043		-0.0014
				(0.0141)		(0.0165)
posX					0.0103	0.0173
					(0.0284)	(0.0311)
Constant		0.3907***	0.4036***	0.3982***	0.3915***	0.3874***
		(0.1423)	(0.1280)	(0.1271)	(0.1319)	(0.1312)
						
Observations	1,392	1,327	1,388	1,388	1,390	1,388
R-squared		0.6795	0.6365	0.6365	0.6357	0.6367
ctrl	Y	Y	Y	Y	Y	Y
city FE	N	Y	Y	Y	Y	Y
year FE	Y	N	Y	Y	Y	Y
CRE	Y					
prov_year		Y				
Standard errors in parentheses						
*** p<0.01, ** p<0.05, * p<0.1						
