Table 6. Correlation of Annual Growth of Quantity per Worker and of Prices with Rest of the
Manufacturing Sector: Cross-Sectional Results
|
I. Quantity per Worker |
(3) |
(4) | ||
|
(1) |
(2) | |||
|
Trade/Output |
-0.038** |
-0.053** |
-0.018** |
-0.017+ |
|
(0.007) |
(0.008) |
(0.007) |
(0.010) | |
|
Output per worker |
-0.026* |
0.024+ |
-0.057** |
-0.021 |
|
(0.011) |
(0.014) |
(0.011) |
(0.019) | |
|
Observations |
1345 |
1345 |
1345 |
1345 |
|
R2 |
0.028 |
0.114 |
0.245 |
0.303 |
|
μc |
no |
no |
yes |
yes |
|
μi___________________ |
no |
yes |
no |
yes |
|
II. Price | ||||
|
(1) |
(2) |
(3) |
(4) | |
|
Trade/Output |
-0.046** |
-0.056** |
-0.042** |
-0.047** |
|
(0.006) |
(0.008) |
(0.006) |
(0.009) | |
|
Output per worker |
0.013 |
0.081** |
-0.044** |
-0.016 |
|
(0.010) |
(0.014) |
(0.010) |
(0.018) | |
|
Observations |
1341 |
1341 |
1341 |
1341 |
|
R2 |
0.054 |
0.153 |
0.399 |
0.459 |
|
μc |
no |
no |
yes |
yes |
|
μi___________________ |
no |
yes |
no |
yes |
Notes: Robust standard errors in parentheses. + significant at 10%; * significant at 5%; ** significant at 1%. The
sample period is 1970-99. The dependent variable is the correlation of the growth rate of quantity per worker or
prices with the rest of the manufacturing sector, 1970-99. All regressors are in natural logs, trade/output is the
period average, and output per worker is the period’s initial value. μc denotes the country fixed effects. μi denotes
the sector fixed effects. All specifications are estimated using OLS.
27
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