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

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