Learning-by-Exporting? Firm-Level Evidence for UK Manufacturing and Services Sectors



Table 3: Weighted systems GMM production function long-run estimates a, UK 1996-2004 (Eq. 5)

Industries:

Independent variables--.^

_______AGF______

_______FBT_______

_______TCL_____

______WPP______

β

t- stat

β

t- stat

β

t- stat

β

t- stat

ln gross outputt-1

0.191

1.84

0.062

0.74

0.230

2.69

0.159

1.46

ln M x EXP_always

1.010

4.13

0.686

4.36

0.848

6.90

0.803

4.01

ln M x EXP_never

0.423

5.15

0.696

21.05

0.433

18.71

0.606

5.03

ln M x EXP_entry

0.939

4.48

0.675

5.57

0.841

7.79

0.519

3.22

ln M x EXP_exit

0.523

1.98

0.874

12.77

0.635

8.75

0.539

3.31

ln M x EXP_both

1.142

1.94

0.553

7.92

0.804

7.27

0.488

3.65

ln K x EXP_always

0.102

2.14

0.113

3.32

0.119

2.41

0.151

2.61

ln K x EXP_never

0.155

2.52

0.170

4.01

0.179

3.03

0.245

2.78

ln K x EXP_entry

0.048

1.89

0.066

2.62

0.161

2.40

0.225

2.37

ln K x EXP_exit

0.420

1.90

0.112

1.89

0.142

2.36

0.269

2.14

ln K x EXP_both

0.106

1.06

0.272

3.96

0.144

1.83

0.248

2.74

ln E x EXP_always

0.049

2.87

0.268

2.55

0.160

2.23

0.148

3.06

ln E x EXP_never

0.200

3.00

0.216

4.53

0.189

2.64

0.296

3.54

ln E x EXP_entry

0.089

2.03

0.475

4.20

0.074

2.28

0.338

3.63

ln E x EXP_exit

0.150

2.77

0.130

4.92

0.190

2.67

0.218

1.93

ln E x EXP_both

0.188

2.98

0.207

3.10

0.095

1.92

0.296

2.95

t x EXP_both

0.134

3.07

0.039

2.20

0.004

0.25

0.030

1.56

t x EXP_never

0.016

1.54

0.006

1.08

0.004

0.18

0.004

0.53

t x EXP_entry

0.023

0.61

-0.014

-1.33

-0.023

-0.96

0.004

0.20

t x EXP_exit

0.013

0.12

0.026

1.17

0.039

0.61

0.025

1.15

t x EXP_always

-0.005

-0.38

0.006

1.12

-0.003

-0.44

-0.021

-1.08

EXP_entry t+1

0.061

0.99

-0.013

-0.15

0.066

0.32

0.678

1.87

EXP_entry t

-0.012

-0.16

0.117

2.31

0.173

0.81

-0.228

-0.52

EXP_entry t-1

-0.066

-0.71

-0.019

-0.28

-0.094

-1.13

-0.238

-1.99

EXP_exit t+1

0.084

0.67

-0.126

-1.83

-0.284

-1.83

0.107

0.38

EXP_exit t

0.133

0.45

-0.054

-0.62

-0.072

-0.44

0.118

0.88

EXP_exit t-1

-0.447

-0.53

-0.049

-1.23

0.157

1.31

-0.236

-1.64

EXP_both t+1

0.689

4.66

-0.021

-0.30

-0.086

-1.10

0.076

0.91

EXP_both t

0.042

0.33

0.211

2.08

-0.153

-1.57

-0.013

-0.15

EXP_both t-1

0.260

1.42

-0.104

-1.80

0.110

0.94

0.057

1.09

Constant x EXP_always

1.281

1.05

2.344

2.75

-0.628

-0.85

1.548

0.68

Constant x EXP_never

1.122

0.89

-0.884

-1.07

2.535

3.31

-0.705

-0.31

Constant x EXP_entry

0.001

0.00

-0.261

-0.26

0.103

0.09

0.716

0.32

Constant x EXP_exit

0.272

0.07

-1.085

-1.36

1.427

1.49

0.249

0.11

Constant x EXP_both

-4.562

-0.73

-1.557

-1.96

0.500

0.45

1.793

0.71

Industry dummies

yes

yes

yes

yes

Region dummies

yes

yes

yes

yes

Diagnostic statistics
No. of Obs.

1702

3065

2223

6903

No. of groups

508

741

530

1798

Hansen-test ( χ2 )

107.15

185.96

150.91

265.83

AR(1) z-statistic

-3.24***

- - _ _*
0.095

_ _ _ **

-2.29

_ _ ***

-2.91

AR(2) z-statistic_______________

_________1.08

0.738

1.48

-0.76

The lagged coefficient on the dependent variable is also reported in order to assess its adjustment speed.

Notes: Refer to Table 2 for details of industry group codes. The 2-step GMM system estimator in STATA 9 is used; the
instrument set includes lagged values of the RHS variables in the model as well as
ln Ageit and Intang it . Standard errors are
obtained using the ‘delta’ method.***/**/* significant at the 1%/5%/10% level.

23



More intriguing information

1. The Importance of Global Shocks for National Policymakers: Rising Challenges for Central Banks
2. Aktive Klienten - Aktive Politik? (Wie) Läßt sich dauerhafte Unabhängigkeit von Sozialhilfe erreichen? Ein Literaturbericht
3. Categorial Grammar and Discourse
4. The name is absent
5. Spectral calibration of exponential Lévy Models [1]
6. The name is absent
7. Regional Intergration and Migration: An Economic Geography Model with Hetergenous Labour Force
8. The name is absent
9. Using Surveys Effectively: What are Impact Surveys?
10. The name is absent