Table 2

Pooled OLS estimates (the dependent variable is trade performance)

(1)(2)(3)(4)
Log (innovation)0.064*** (0.017)0.257*** (0.076)−0.601*** (0.148)0.468** (0.228)
Log (apparent consumption)0.090*** (0.017)0.677*** (0.093)1.027*** (0.144)2.346*** (0.360)
Log (capital stock)−0.088*** (0.029)−0.481*** (0.118)0.363** (0.138)−1.259*** (0.370)
Log (labor input)0.135*** (0.030)0.198 (0.217)0.869*** (0.239)−0.578 (0.708)
Observations165216130104
GroupFrance–GermanyItaly–AustriaSpain– the NetherlandThe United Kingdom–Finland
R-squared0.3300.3450.3850.525

Note(s): * denotes significant at 10% level; ** significant at 5% level; *** significant at 1% level. Numbers in parentheses indicate robust standard errors

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