Marginal effects excluding outliers
| Explanatory variable | Probit | IV-probit |
|---|---|---|
| ln (Agglomeration) | −0.1361 (0.028)*** | −0.7564 (0.117)*** |
| Size of the firm | (–) | (–) |
| Industrial sectors (47) | Yes | Yes |
| Distance from CBD | Yes | Yes |
| Distance from main corridors | Yes | Yes |
| Number of observations | 36,914 | 36,914 |
| F-statistic (weak instrument) | 16.52 |
| Explanatory variable | Probit | IV-probit |
|---|---|---|
| ln (Agglomeration) | −0.1361 (0.028) | −0.7564 (0.117) |
| Size of the firm | (–) | (–) |
| Industrial sectors (47) | Yes | Yes |
| Distance from CBD | Yes | Yes |
| Distance from main corridors | Yes | Yes |
| Number of observations | 36,914 | 36,914 |
| 16.52 |
Notes:
Marginal effects at the means of the independent variables. Clustered standard errors by neighbourhood in parenthesis; *** p < 0.01; ** p < 0.05; * p < 0.10
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