Table 3 Two-stage quantile regressions... | Emerald Publishing

Table 3

Two-stage quantile regressions (dependent variable is trade performance)

	(1)		(2)		(3)		(4)
	0.50	0.75	0.50	0.75	0.50	0.75	0.50	0.75
Log (innovation)	−1.488 (3.878)	0.166*** (0.043)	0.161*** (0.022)	0.012 (0.025)	−0.146*** (0.006)	−0.330*** (0.032)	0.175** (0.080)	0.036 (0.063)
Log (apparent consumption)	−7.402 (17.563)	0.214*** (0.049)	0.203*** (0.044)	0.3*** (0.032)	0.785*** (0.011)	1.148*** (0.051)	1.570*** (0.090)	1.178*** (0.067)
Log (capital stock)	2.915 (6.797)	−0.290*** (0.075)	−0.736*** (0.060)	−0.364*** (0.040)	0.481*** (0.017)	0.346*** (0.035)	−1.006*** (0.134)	0.215*** (0.075)
Log (labor input)	4.790 (9.933)	0.286*** (0.290)	−1.387*** (0.080)	−0.386*** (0.046)	0.383*** (0.039)	1.473*** (0.120)	−0.423 (0.261)	0.030 (0.272)
Observations	165	165	216	216	130	130	104	104
Group	France–Germany		Italy–Austria		Spain–Netherland		The United Kingdom–Finland

	(1)		(2)		(3)		(4)
	0.50	0.75	0.50	0.75	0.50	0.75	0.50	0.75
Log (innovation)	−1.488 (3.878)	0.166*** (0.043)	0.161*** (0.022)	0.012 (0.025)	−0.146*** (0.006)	−0.330*** (0.032)	0.175** (0.080)	0.036 (0.063)
Log (apparent consumption)	−7.402 (17.563)	0.214*** (0.049)	0.203*** (0.044)	0.3*** (0.032)	0.785*** (0.011)	1.148*** (0.051)	1.570*** (0.090)	1.178*** (0.067)
Log (capital stock)	2.915 (6.797)	−0.290*** (0.075)	−0.736*** (0.060)	−0.364*** (0.040)	0.481*** (0.017)	0.346*** (0.035)	−1.006*** (0.134)	0.215*** (0.075)
Log (labor input)	4.790 (9.933)	0.286*** (0.290)	−1.387*** (0.080)	−0.386*** (0.046)	0.383*** (0.039)	1.473*** (0.120)	−0.423 (0.261)	0.030 (0.272)
Observations	165	165	216	216	130	130	104	104
Group	France–Germany		Italy–Austria		Spain–Netherland		The United Kingdom–Finland

Note(s): * denotes significant at 10% level; ** significant at 5% level; *** significant at 1% level