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

Industries:

Independent variables:"^-'-'-^

_______TRA______

_______POT_______

_________FIN______

_______BUS_______

β

t- stat

β

t- stat

_______β^{^}

t- stat

β

t- stat

ln gross outputt-1

0.467

3.22

0.225

2.70

0.631

5.20

0.416

6.59

ln M x EXP_always

0.878

2.94

0.716

5.07

0.932

4.40

0.759

3.87

ln M x EXP_never

0.609

9.33

0.769

14.76

0.453

6.66

0.846

7.63

ln M x EXP_entry

0.766

7.64

0.501

4.59

0.293

2.46

0.749

4.72

ln M x EXP_exit

0.698

8.91

0.415

2.75

0.430

2.69

0.560

2.62

ln M x EXP_both

0.252

2.37

0.124

2.56

0.187

1.93

0.468

2.51

ln K x EXP_always

0.132

2.35

0.119

2.35

0.090

2.14

0.171

2.34

ln K x EXP_never

0.071

2.04

0.138

2.34

0.096

2.55

0.025

2.28

ln K x EXP_entry

0.136

1.90

0.234

3.90

0.150

2.68

0.062

3.24

ln K x EXP_exit

0.126

1.82

0.106

2.11

0.304

3.27

0.165

1.63

ln K x EXP_both

0.042

1.61

0.249

1.88

0.160

1.88

0.219

2.44

ln E x EXP_always

0.209

2.83

0.339

2.63

0.244

2.44

0.122

2.31

ln E x EXP_never

0.198

2.41

0.134

2.41

0.440

2.94

0.298

2.85

ln E x EXP_entry

0.090

3.28

0.305

3.28

0.651

3.55

0.370

2.33

ln E x EXP_exit

0.148

3.55

0.776

4.55

0.363

2.00

0.411

2.34

ln E x EXP_both

0.410

3.51

0.641

2.81

0.677

3.61

0.396

2.17

t x EXP_both

-0.103

-0.78

0.016

0.17

0.036

0.72

0.025

0.62

t x EXP_never

0.007

1.02

-0.030

-1.50

-0.003

-0.56

-0.008

-0.54

t x EXP_entry

0.048

1.50

0.138

2.67

-0.010

-0.13

-0.048

-0.63

t x EXP_exit

0.046

1.88

0.098

0.47

-0.030

-0.40

-0.039

-0.94

t x EXP_always

-0.011

-0.34

-0.068

-1.27

-0.005

-0.30

0.010

0.44

EXP_entry t+1

0.122

0.99

-0.001

0.00

-0.314

-1.48

-0.260

-0.44

EXP_entry t

-0.025

-0.41

0.135

2.61

0.673

3.22

0.649

2.51

EXP_entry t-1

-0.095

-0.95

0.047

0.40

0.106

0.46

-0.160

-0.45

EXP_exit t+1

-0.247

-1.86

0.102

2.40

-0.267

-1.00

-0.049

-0.29

EXP_exit t

0.033

0.24

-0.736

-2.24

0.115

0.35

0.442

0.87

EXP_exit t-1

0.087

0.80

0.359

0.92

-0.012

-0.06

0.023

0.11

EXP_both _t+1

-0.277

-0.53

0.247

0.61

0.235

0.71

-0.434

-1.43

EXP_both t

-0.291

-0.74

0.109

0.37

0.542

2.11

0.025

0.14

EXP_both t-1

-0.051

-0.13

0.063

0.34

0.007

0.04

-0.284

-1.68

Constant x EXP_always

-0.856

-0.38

0.856

0.45

0.620

0.59

2.735

1.66

Constant x EXP_never

2.292

0.99

0.120

0.06

1.862

1.65

-2.153

-1.16

Constant x EXP_entry

1.299

0.59

-0.520

-0.26

1.227

0.98

0.312

0.16

Constant x EXP_exit

1.366

0.58

2.607

1.14

1.722

1.23

0.936

0.39

Constant x EXP_both

5.325

0.53

1.438

0.55

1.015

0.77

1.686

0.98

Industry dummies

yes

yes

yes

yes

Region dummies

yes

yes

yes

yes

Diagnostic statistics

No. of Obs.

3229

979

15285

23841

No. of groups

1051

337

4655

7932

Hansen-test ( χ² )

91.40

129.89

359.54*

334.72

AR(1) z-statistic

-1.30

-1.45

_ ***

-6.18

_ ***

-6.19

AR(2) z-statistic_______________

-1.97

-1.09

-0.04

-0.25