OLS and 2SLS regressions for business and investment climate in Jordan
| Panel A: OLS | DV: Logarithm of value added | DV: Labour productivity | DV: Logarithm of TFP | Panel B: IV | DV: Logarithm of value added | DV: Labour productivity | DV: Logarithm of TFP |
|---|---|---|---|---|---|---|---|
| Business climate | −0.1644* (0.0930) | −0.1015 (0.1327) | −0.1428* (0.7331) | Business climate | −0.2111* (0.4211) | −0.2610 (0.4848) | −0.1902* (0.1081) |
| Logarithm of firm size | 0.9904*** (0.0829) | −0.0221 (0.0979) | 0.0409 (0.1058) | Logarithm of firm size | 0.9676*** (0.0950) | −0.0339 (0.1178) | 0.0522 (0.0799) |
| Young firms | 0.1316 (0.2225) | 0.0567 (0.2960) | 0.1084 (0.0883) | Young firms | 0.1203 (0.2282) | 0.0237 (0.2997) | 0.0985 (0.1055) |
| Is one of the owners female? (Yes) | −0.7475*** (0.2613) | −1.2679*** (0.2993) | −1.3926*** (0.3285) | Is one of the owners female? (Yes) | −0.8461*** (0.2705) | −1.4402*** (0.3060) | −1.5531*** (0.3422) |
| Manager's years of experience | 0.0121 (0.0097) | 0.0056 (0.0102) | 0.0118 (0.0109) | Manager's years of experience | 0.0095 (0.0091) | 0.0067 (0.0107) | 0.0129 (0.0113) |
| International quality assurance qualification (Yes) | 0.1885 (0.2508) | 0.2040 (0.2902) | 0.4190* (0.2274) | International quality assurance qualification (Yes) | 0.1506 (0.2608) | 0.1855 (0.2894) | 0.4237* (0.2220) |
| Is the firm part of another establishment? (Yes) | 0.2616 (0.3141) | 0.1878 (0.3640) | −0.3227 0.3832) | Is the firm part of another establishment? (Yes) | 0.1710 (0.3472) | 0.3124 (0.4316) | −0.3838 (0.4221) |
| Firm status (public owned) | 0.0042 (0.0159) | −0.0028 (0.0187) | −0.0169 (0.0140) | Firm status (public owned) | 0.0053 (0.0160) | −0.0022 (0.0182) | −0.0188 (0.0144) |
| No. observations | 404 | 401 | 358 | No. observations | 386 | 381 | 343 |
| R-square | 0.4904 | 0.1122 | 0.1518 | Centered R-Square | 0.4849 | 0.1157 | 0.1568 |
| Weak identification test | 15.219 [0.0006] | 13.957 [0.0012] | 16.119 0.0001] | ||||
| Hansen J statistic | 7.881 [0.4452] | 6.448 [0.5838] | 12.255 [0.1139] |
| Panel A: OLS | DV: Logarithm of value added | DV: Labour productivity | DV: Logarithm of TFP | Panel B: IV | DV: Logarithm of value added | DV: Labour productivity | DV: Logarithm of TFP |
|---|---|---|---|---|---|---|---|
| Business climate | −0.1644* (0.0930) | −0.1015 (0.1327) | −0.1428* (0.7331) | Business climate | −0.2111* (0.4211) | −0.2610 (0.4848) | −0.1902* (0.1081) |
| Logarithm of firm size | 0.9904*** (0.0829) | −0.0221 (0.0979) | 0.0409 (0.1058) | Logarithm of firm size | 0.9676*** (0.0950) | −0.0339 (0.1178) | 0.0522 (0.0799) |
| Young firms | 0.1316 (0.2225) | 0.0567 (0.2960) | 0.1084 (0.0883) | Young firms | 0.1203 (0.2282) | 0.0237 (0.2997) | 0.0985 (0.1055) |
| Is one of the owners female? (Yes) | −0.7475*** (0.2613) | −1.2679*** (0.2993) | −1.3926*** (0.3285) | Is one of the owners female? (Yes) | −0.8461*** (0.2705) | −1.4402*** (0.3060) | −1.5531*** (0.3422) |
| Manager's years of experience | 0.0121 (0.0097) | 0.0056 (0.0102) | 0.0118 (0.0109) | Manager's years of experience | 0.0095 (0.0091) | 0.0067 (0.0107) | 0.0129 (0.0113) |
| International quality assurance qualification (Yes) | 0.1885 (0.2508) | 0.2040 (0.2902) | 0.4190* (0.2274) | International quality assurance qualification (Yes) | 0.1506 (0.2608) | 0.1855 (0.2894) | 0.4237* (0.2220) |
| Is the firm part of another establishment? (Yes) | 0.2616 (0.3141) | 0.1878 (0.3640) | −0.3227 0.3832) | Is the firm part of another establishment? (Yes) | 0.1710 (0.3472) | 0.3124 (0.4316) | −0.3838 (0.4221) |
| Firm status (public owned) | 0.0042 (0.0159) | −0.0028 (0.0187) | −0.0169 (0.0140) | Firm status (public owned) | 0.0053 (0.0160) | −0.0022 (0.0182) | −0.0188 (0.0144) |
| No. observations | 404 | 401 | 358 | No. observations | 386 | 381 | 343 |
| 0.4904 | 0.1122 | 0.1518 | Centered | 0.4849 | 0.1157 | 0.1568 | |
| Weak identification test | 15.219 [0.0006] | 13.957 [0.0012] | 16.119 0.0001] | ||||
| Hansen J statistic | 7.881 [0.4452] | 6.448 [0.5838] | 12.255 [0.1139] |
Note(s): Standard errors within brackets, p-values within the square brackets, *** and * indicate significance respectively at the 1 and 10% level. The period of analysis is 2006–2013
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