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



Table 3 (cont.)

Industries:

Independent variablcs^^-^^

_______CRR______

______MET______

______ENG_____

______OMF______

β

t- stat

β

t- stat

β

t- stat

β

t- stat

ln gross outputt-1

0.194

3.32

0.238

3.05

0.165

1.81

0.136

1.59

ln M x EXP_always

0.739

4.91

0.857

3.44

0.676

4.71

0.785

5.67

ln M x EXP_never

0.794

8.52

0.797

12.04

0.637

10.53

0.783

10.69

ln M x EXP_entry

0.779

5.18

0.827

12.17

0.805

15.15

0.907

21.24

ln M x EXP_exit

0.774

9.36

0.962

12.23

0.916

8.04

0.776

7.13

ln M x EXP_both

0.865

14.11

0.575

3.84

0.543

6.99

0.714

7.67

ln K x EXP_always

0.201

4.67

0.104

2.34

0.169

2.95

0.133

2.11

ln K x EXP_never

0.217

4.88

0.114

2.50

0.113

2.24

0.221

4.43

ln K x EXP_entry

0.116

5.30

0.045

1.85

0.051

2.20

0.127

2.43

ln K x EXP_exit

0.183

4.45

0.048

1.91

0.095

2.02

0.129

2.40

ln K x EXP_both

0.095

3.92

0.172

3.50

0.109

1.86

0.225

4.47

ln E x EXP_always

0.211

2.78

0.097

2.37

0.088

3.00

0.190

2.23

ln E x EXP_never

0.062

2.38

0.158

2.89

0.261

2.65

0.062

3.65

ln E x EXP_entry

0.320

5.31

0.242

3.58

0.283

4.34

0.166

2.96

ln E x EXP_exit

0.139

2.43

0.165

2.49

0.120

1.54

0.206

2.50

ln E x EXP_both

0.253

4.89

0.165

1.99

0.446

4.20

0.094

2.92

t x EXP_both

-0.011

-0.56

-0.042

-2.23

0.022

1.81

0.006

0.26

t x EXP_never

0.004

0.39

-0.005

-0.76

-0.009

-1.09

-0.036

-2.01

t x EXP_entry

-0.019

-0.63

0.017

1.40

0.002

0.14

-0.004

-0.31

t x EXP_exit

0.044

2.55

-0.010

-0.50

-0.006

-0.27

-0.002

-0.09

t x EXP_always

0.008

1.55

-0.002

-0.23

0.005

0.66

-0.007

-1.12

EXP_entry t+1

0.242

1.58

-0.004

-0.06

0.112

1.50

-0.094

-1.02

EXP_entry t

0.030

0.22

-0.043

-0.61

0.278

2.62

0.272

3.12

EXP_entry t-1

0.068

1.29

-0.052

-0.84

-0.215

-2.01

-0.084

-1.80

EXP_exit t+1

-0.186

-1.88

-0.264

-3.72

0.098

1.27

-0.068

-0.69

EXP_exit t

-0.692

-3.26

0.120

1.30

-0.091

-0.73

0.094

0.70

EXP_exit t-1

0.399

1.76

0.237

4.24

-0.114

-1.82

0.055

0.52

EXP_both t+1

-0.025

-0.33

-0.072

-0.93

-0.048

-0.66

-0.045

-0.86

EXP_both t

-0.004

-0.20

0.071

0.97

0.036

0.60

0.042

0.51

EXP_both t-1

-0.017

-0.22

-0.008

-0.18

0.009

0.17

-0.055

-1.34

Constant x EXP_always

0.924

1.75

0.834

0.80

1.634

3.01

0.849

0.71

Constant x EXP_never

0.338

0.55

0.189

0.16

0.471

0.78

0.284

0.21

Constant x EXP_entry

0.147

0.20

0.399

0.37

-0.155

-0.24

-0.969

-0.83

Constant x EXP_exit

0.621

1.01

-0.020

-0.02

-0.756

-1.05

-0.081

-0.06

Constant x EXP_both

0.352

0.62

2.959

2.32

0.411

0.78

0.349

0.31

Industry dummies

yes

yes

yes

yes

Region dummies

yes

yes

yes

yes

Diagnostic statistics
No. of Obs.

4629

7075

9596

3731

No. of groups

1107

1719

2252

948

Hansen-test ( χ2 )

230.23

324.10

311.20

212.36

AR(1) z-statistic

-1.95*

_ _ ***

-2.69

***

-2.77

-1.23

AR(2) z-statistic______________

_________0.49

-0.87

-1.16

-0.91

24



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