Table 6 Analysis of endogeneity issue.
Variables | First stage | Second stage |
|---|---|---|
IMi, t | TFPi, t | |
IV | 0.242*** (0.0271) | |
IMi, t | 0.184*** (0.0251) | |
CN | yes | yes |
_cons | 5.077*** (0.271) | 3.727*** (0.0490) |
N | 16,895 | 14,642 |
R-sq | 0.535 | 0.641 |
Variables | First stage | Second stage |
|---|---|---|
IMi, t | TFPi, t | |
IV | 0.242*** (0.0271) | |
IMi, t | 0.184*** (0.0251) | |
CN | yes | yes |
_cons | 5.077*** (0.271) | 3.727*** (0.0490) |
N | 16,895 | 14,642 |
R-sq | 0.535 | 0.641 |