Table A1 Results for all countries with...

Table A1

Results for all countries with interactions

Variable(s)	Model 1	Model 2	Model 3	Model 4	Model 5 (endogenous probit)
Manufacturing	0.014 (0.028)	0.015 (0.029)	0.027 (0.030)	0.018 (0.029)	0.022* (0.01)
Firm size	0.019*** (0.004)	0.019*** (0.004)	0.015** (0.006)	0.019*** (0.006)	0.020 (0.013)
Experience of the owner	0.006** (0.003)	0.005* (0.003)	0.005* (0.003)	0.004 (0.003)	0.008** (0.003)
Firm age	−0.007* (0.003)	−0.006* (0.003)	−0.007 (0.004)	−0.005 (0.003)	−0.006 (0.004)
Education	0.063*** (0.015)	0.069*** (0.015)	0.065*** (0.015)	0.069*** (0.015)	0.071*** (0.020)
Gender of the owner	0.047 (0.029)	0.048 (0.030)	0.055* (0.031)	0.055* (0.030)	0.061** (0.020)
Registration time	−0.0002 (0.0002)	0.0003 (0.0002)	0.0002 (0.0003)	0.0003 (0.0002)	0.0002 (0.00015)
Productivity					0.039** (0.018)
Future taxes	−0.054*** (0.014)	−0.053*** (0.014)	−0.071*** (0.014)	−0.225*** (0.079)	0.098 (0.057)
Time, fees and paperwork	−0.027* (0.013)	−0.024* (0.013)	−0.029* (0.015)	−0.015 (0.015)	0.022** (0.010)
Access to finance	0.365*** (0.028)	0.346*** (0.028)	0.333*** (0.029)	0.342*** (0.043)	0.249*** (0.056)
Infrastructure and governmentt services	0.016 (0.010)	0.016 (0.010)	0.021** (0.011)		0.018** (0.008)
Past registration	0.245*** (0.059)	0.235*** (0.061)	0.218*** (0.062)	0.218*** (0.063)	0.179 (0.101)
No loan × unregistered		−0.079 (0.069)	−0.078 (0.070)	−0.072 (0.071)	−0.086 (0.054)
Age × size			0.002 (0.003)		0.003 (0.002)
Age × taxes				−0.001 (0.008)	0.002 (0.003)
Access finance × taxes				0.019 (0.064)	0.022** (0.010)
Observations	2,240	2,240	2,240	2,240	2,215
No. of countries	13	13	13	13	13

Variable(s)	Model 1	Model 2	Model 3	Model 4	Model 5 (endogenous probit)
Manufacturing	0.014 (0.028)	0.015 (0.029)	0.027 (0.030)	0.018 (0.029)	0.022* (0.01)
Firm size	0.019*** (0.004)	0.019*** (0.004)	0.015** (0.006)	0.019*** (0.006)	0.020 (0.013)
Experience of the owner	0.006** (0.003)	0.005* (0.003)	0.005* (0.003)	0.004 (0.003)	0.008** (0.003)
Firm age	−0.007* (0.003)	−0.006* (0.003)	−0.007 (0.004)	−0.005 (0.003)	−0.006 (0.004)
Education	0.063*** (0.015)	0.069*** (0.015)	0.065*** (0.015)	0.069*** (0.015)	0.071*** (0.020)
Gender of the owner	0.047 (0.029)	0.048 (0.030)	0.055* (0.031)	0.055* (0.030)	0.061** (0.020)
Registration time	−0.0002 (0.0002)	0.0003 (0.0002)	0.0002 (0.0003)	0.0003 (0.0002)	0.0002 (0.00015)
Productivity					0.039** (0.018)
Future taxes	−0.054*** (0.014)	−0.053*** (0.014)	−0.071*** (0.014)	−0.225*** (0.079)	0.098 (0.057)
Time, fees and paperwork	−0.027* (0.013)	−0.024* (0.013)	−0.029* (0.015)	−0.015 (0.015)	0.022** (0.010)
Access to finance	0.365*** (0.028)	0.346*** (0.028)	0.333*** (0.029)	0.342*** (0.043)	0.249*** (0.056)
Infrastructure and governmentt services	0.016 (0.010)	0.016 (0.010)	0.021** (0.011)		0.018** (0.008)
Past registration	0.245*** (0.059)	0.235*** (0.061)	0.218*** (0.062)	0.218*** (0.063)	0.179 (0.101)
No loan × unregistered		−0.079 (0.069)	−0.078 (0.070)	−0.072 (0.071)	−0.086 (0.054)
Age × size			0.002 (0.003)		0.003 (0.002)
Age × taxes				−0.001 (0.008)	0.002 (0.003)
Access finance × taxes				0.019 (0.064)	0.022** (0.010)
Observations	2,240	2,240	2,240	2,240	2,215
No. of countries	13	13	13	13	13

Note(s): The corresponding robust standard errors are in parentheses; ***p < 0.01; **p < 0.05, *p < 0.1. The intention to register variable is a dummy taking the value of one when the firm states that it intends to register and zero otherwise. Sector dummy takes the value of one if it is manufacturing and zero if it is services. Gender is a dummy taking the value of one if the main decision maker is male and zero otherwise. Other variables are as defined in Table A2 in Appendix

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