Table 5

First-stage diagnostics for shift–share instruments

StatisticValue
Joint instrument F-statistic19.88
Prob > F0
Kleibergen–Paap rk LM statistic36.53
Kleibergen–Paap rk LM p-value0
Kleibergen–Paap rk Wald F statistic19.88
Stock–Yogo critical value (10%)19.93
Stock–Yogo critical value (15%)11.59
Exporter-importer FEYes
Year FEYes

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