How can climate adaptation policy enhance urban climate resilience? Empirical evidence from China

PLOS One | https://doi.org/10.1371/journal.pone.0335736 November 6, 2025 15 / 21 4.3.2. Endogenous discussion. On the one hand, we employed the instrumental variable method to address potential endogeneity issues in the mediating mechanism test. The CACCP policy instrument variable remains L5_ERD , with the rationale outlined in Section 4.2.2 of this paper. For green bonds (GB), the instrumental variable we selected Table 6. Moderating mechanisms test results. Variable Resilience (1) (2) (3) pilot×postpilot × post 0.0039 (0.0042) 0.0024 (0.0038) 0.0209*** (0.0037) pilot × post × Edu 0.0269** (0.0135) pilot × Edu -0.1932*** (0.0347) post × Edu 0.0464*** (0.0057) pilot × post × Pec 0.0183* (0.0108) pilot × Pec 0.0088 (0.0165) post × Pec 0.0733*** (0.0065) pilot × post × Mrd -0.0757** (0.0376) pilot × Mrd 0.1893*** (0.0348) post × Mrd -0.0288*** (0.0065) Constant 0.0598*** (0.0075) 0.0604*** (0.0081) 0.0783*** (0.0088) Controls YES YES YES City FE YES YES YES Year FE YES YES YES N 741 741 741 Adj.R2 0.9457 0.9492 0.9377 https://doi.org/10.1371/journal.pone.0335736.t006 Fig 7. Moderating effect estimates and 95% confidence intervals. https://doi.org/10.1371/journal.pone.0335736.g007