Table 4 (cont.)
______CON |
RSM |
WHO |
RHR |
TRA |
POT |
FIN |
BUS | |
IV model | ||||||||
EXP_entry t+1 |
0.069 |
0.051 |
-0.341 |
-0.605** |
0.122 |
-0.001 |
-0.314 |
-0.260 |
EXP_entry t |
- * |
0.065 |
_ _ _ * -0.376* |
0.104 |
-0.025 |
0.135*** |
0.673*** |
-** |
EXP_entry t-1 |
-0.123 |
0.019 |
-0.157 |
-0.067 |
-0.095 |
0.047 |
0.106 |
-0.160 |
EXP_exit t+1 |
0.069 |
-0.446*** |
-0.426* |
-0.111 |
-0.247* |
0.102** |
-0.267 |
-0.049 |
EXP_exit t |
-0.151 |
0.048 |
0.000 |
-0.596 |
0.033 |
-0.736** |
0.115 |
0.442 |
EXP_exit t-1 |
-0.004 |
0.131* |
-0.375* |
0.111 |
0.087 |
0.359 |
-0.012 |
0.023 |
EXP_both t+1 |
0.033 |
0.166 |
-0.213** |
0.566 |
-0.277 |
0.247 |
0.235 |
-0.434 |
EXP_both t |
0.026 |
0.047 |
0.181 |
0.135 |
-0.291 |
0.109 |
0.542** |
0.025 |
EXP_both t-1 |
-0.010 |
0.078 |
-0.132** |
0.323 |
-0.051 |
0.063 |
0.007 |
-0.284* |
No. of Obs. |
10531 |
6094 |
12753 |
10414 |
3229 |
979 |
15285 |
23841 |
No. of groups |
3055 |
1644 |
3389 |
2978 |
1051 |
337 |
4655 |
7932 |
Control function | ||||||||
EXP_entry t+1 |
0.068 |
* |
-0.291 |
-0.742 |
0.129 |
-0.045 |
-0.682* |
-0.037 |
EXP_entry t |
0.300* |
-0.366 |
_ _ _ *** |
1.253 |
-0.130 |
0.139* |
1.841*** |
1.325** |
EXP_entry t-1 |
0.066 |
0.171** |
-0.158 |
-0.062 |
-0.110 |
-0.155 |
0.025 |
-0.370 |
EXP_exit t+1 |
0.090 |
-0.383** |
-0.314 |
-0.063 |
-0.260* |
*** |
-0.226 |
-0.028 |
EXP_exit t |
-0.549 |
0.588 |
_ _ *** |
-1.794 |
0.319 |
-0.675** |
-0.800 |
-0.243 |
EXP_exit t-1 |
-0.012 |
0.145 |
-0.236 |
0.064 |
0.092 |
0.502 |
-0.032 |
0.092 |
EXP_both t+1 |
0.019 |
0.135 |
-0.239** |
0.784 |
-0.018 |
0.226 |
0.333 |
-0.441 |
EXP_both t |
0.424 |
-0.434 |
_ _ *** |
1.530 |
-0.230 |
1.211 |
___ *** 1.582*** |
0.578 |
EXP_both t-1 |
0.007 |
0.061 |
-0.087 |
0.369 |
0.282 |
-0.154 |
-0.066 |
_ ___*** -0.378*** |
λ1 |
-0.122 |
0.099* |
__*** -0.594*** |
-0.178 |
0.042 |
-0.333* |
-0.183* |
-0.164 |
λ0 |
-1.646 |
-0.289 |
-1.150*** |
-3.512 |
-0.534 |
-0.555 |
-2.217*** |
0.314 |
No. of Obs. |
10531 |
6094 |
12753 |
10414 |
3225 |
979 |
15285 |
23841 |
No. of groups |
3055 |
1644 |
3389 |
2978 |
1050 |
337 |
4655 |
7932 |
Matched sample | ||||||||
EXP_entry t+1 |
0.085* |
0.029 |
-0.342 |
-0.749** |
0.101 |
-0.033 |
-0.228 |
-0.202 |
EXP_entry t |
0.085** |
0.076 |
-0.348* |
0.124 |
0.102 |
0.201** |
0.350*** |
0.303*** |
EXP_entry t-1 |
-0.102** |
0.003 |
-0.146 |
-0.058 |
0.015 |
0.072 |
0.116 |
0.003 |
EXP_exit t+1 |
0.016 |
-0.380*** |
-0.450* |
-0.143 |
-0.195** |
0.080*** |
-0.105 |
0.019 |
EXP_exit t |
-0.142 |
0.000 |
0.025 |
-0.730 |
0.086 |
-0.681*** |
-0.113 |
0.085 |
EXP_exit t-1 |
-0.003 |
0.093 |
-0.340 |
0.107 |
0.056 |
0.446 |
0.019 |
-0.054 |
EXP_both t+1 |
0.030 |
0.063 |
-0.204*** |
0.631 |
-0.386* |
0.156 |
0.064 |
-0.166 |
EXP_both t |
0.027 |
-0.037 |
0.167 |
0.097 |
-0.087 |
0.141 |
0.430** |
0.091 |
EXP_both t-1 |
-0.011 |
-0.038 |
-0.132** |
0.344 |
-0.010 |
0.105 |
0.029 |
-0.168* |
No. of Obs. |
2941 |
1326 |
10688 |
2669 |
1301 |
666 |
3992 |
16164 |
No. of groups_________ |
1338 |
659 |
3118 |
1170 |
623 |
266 |
1807 |
5911 |
Table 4 shows that ‘learning-by-exporting’ is present but it is by no means universal,
and even within industry groups there are differences for entrants, exiting exporters,
and those that experience both entry and exit into overseas markets. To summarise the
29
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