First-stage estimations
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Total | Formal | Total Aggl. | Total Aggl. | |
| Agglomeration | Agglomeration | No outliers | Control (+) | |
| Liquefaction | −0.2269 (0.0573)*** | −0.5192 (0.0672)*** | −0.2144 (0.056)*** | −0.2968 (0.066)*** |
| Size of the firm | (+) | (+) | (+) | (+) |
| Industrial sectors (47) | Yes | Yes | Yes | Yes |
| Distance form CBD | Yes | Yes | Yes | Yes |
| Distance from main corridors | Yes | Yes | Yes | Yes |
| Adj. R2 | 0.91 | 0.90 | 0.77 | 0.77 |
| F-statistic (weak instrument) | 18.81 | 27.37 | 16.52 | 4.48 |
| Number of observations | 51,454 | 51,454 | 36,921 | 12,850 |
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| Total | Formal | Total Aggl. | Total Aggl. | |
| Agglomeration | Agglomeration | No outliers | Control (+) | |
| Liquefaction | −0.2269 (0.0573)*** | −0.5192 (0.0672)*** | −0.2144 (0.056)*** | −0.2968 (0.066)*** |
| Size of the firm | (+) | (+) | (+) | (+) |
| Industrial sectors (47) | Yes | Yes | Yes | Yes |
| Distance form CBD | Yes | Yes | Yes | Yes |
| Distance from main corridors | Yes | Yes | Yes | Yes |
| Adj. | 0.91 | 0.90 | 0.77 | 0.77 |
| 18.81 | 27.37 | 16.52 | 4.48 | |
| Number of observations | 51,454 | 51,454 | 36,921 | 12,850 |
Notes:
Standard errors clustered by neighbourhood in parenthesis; *** p < 0.01. (+) controlling the distance 1 km from liquefaction limit
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