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



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

- *
0.101
*

0.065

_ _ _ *

-0.376*

0.104

-0.025

0.135***

0.673***

-**
0.649
**

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

*
0.144
*

-0.291

-0.742

0.129

-0.045

-0.682*

-0.037

EXP_entry t

0.300*

-0.366

_ _ _ ***
2.033***

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*

***
0.104
***

-0.226

-0.028

EXP_exit t

-0.549

0.588

_ _ ***
-2.351***

-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

_ _ ***
2.460***

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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