Table 5 Exit of activities – logit...

Table 5

Exit of activities – logit models

	Dependent variable
	Exit
	General model	Low	Medium-low	Medium-high	High
	(1)	(2)	(3)	(4)	(5)
Relatedness density	−7.745^***	−11.517^**	−12.222^***	−9.621^***	−10.978^***
	(0.501)	(4.984)	(1.019)	(1.261)	(1.289)
	[–1.419]	[–2.095]	[–2.239]	[–1.760]	[–1.730]
PCI	1.848^***	7.601^***	2.687^***	0.569^**	−0.396
	(0.238)	(1.407)	(0.370)	(0.271)	(0.309)
	[0.338]	[1.383]	[0.492]	[0.104]	[–0.062]
Diversity	0.178^***	0.196	0.350^***	0.648^***	0.422^**
Diversity	(0.030)	(0.180)	(0.047)	(0.093)	(0.170)
Log(GDPpc)	0.015	−0.592^***	−0.011	−0.001	0.277^**
Log(GDPpc)	(0.043)	(0.203)	(0.052)	(0.079)	(0.120)
Log(population)	0.132^***	−0.059	0.024	0.067	0.524^***
Log(population)	(0.028)	(0.108)	(0.032)	(0.050)	(0.114)
Region productivity	−0.115	1.171^***	−0.073	−0.268^*	−0.853^***
Region productivity	(0.084)	(0.369)	(0.104)	(0.159)	(0.218)
Region HC	0.579^***	−0.390	0.746^***	0.961^**	1.621^*
Region HC	(0.209)	(0.649)	(0.248)	(0.454)	(0.902)
Incentives	−0.051	−0.030	−0.130^*	0.053	−0.292
Incentives	(0.056)	(0.235)	(0.072)	(0.126)	(0.344)
Credit	0.000^***	−0.000	0.000	0.000	0.000^**
Credit	(0.000)	(0.00000)	(0.000)	(0.000)	(0.000)
Sector size	−0.298^***	−0.305^**	−0.302^***	−0.285^***	−0.264^***
Sector size	(0.033)	(0.124)	(0.041)	(0.036)	(0.043)
CL	1.559^***	1.456^**	1.431^***	1.957^***	3.357^***
CL	(0.206)	(0.727)	(0.247)	(0.222)	(0.290)
Sector HC	0.595^**	−0.229	0.622^*	0.407	0.838^**
Sector HC	(0.278)	(0.963)	(0.369)	(0.282)	(0.330)
Sector productivity	0.132^*	0.388	0.149	0.096	0.020
Sector productivity	(0.069)	(0.261)	(0.092)	(0.079)	(0.102)
Constant	−3.644^***	−10.714^***	−2.934^***	−3.909^***	−5.220^***
Constant	(0.501)	(2.753)	(0.665)	(0.984)	(1.984)
Fixed effects – UF	Yes	Yes	Yes	Yes	Yes
Fixed effects – activities	Yes	Yes	Yes	Yes	Yes
Observations	99,919	3,065	47,326	36,775	12,753
Pseudo R2	0.07	0.15	0.10	0.06	0.07
Log likelihood	−54737.750	−1658.514	−25890.140	−20160.710	−6223.971
Akaike Inf. Crit	109727.500	3535.029	52030.280	40567.430	12669.940

	Dependent variable
	Exit
	General model	Low	Medium-low	Medium-high	High
	(1)	(2)	(3)	(4)	(5)
Relatedness density	−7.745^***	−11.517^**	−12.222^***	−9.621^***	−10.978^***
	(0.501)	(4.984)	(1.019)	(1.261)	(1.289)
	[–1.419]	[–2.095]	[–2.239]	[–1.760]	[–1.730]
PCI	1.848^***	7.601^***	2.687^***	0.569^**	−0.396
	(0.238)	(1.407)	(0.370)	(0.271)	(0.309)
	[0.338]	[1.383]	[0.492]	[0.104]	[–0.062]
Diversity	0.178^***	0.196	0.350^***	0.648^***	0.422^**
Diversity	(0.030)	(0.180)	(0.047)	(0.093)	(0.170)
Log(GDPpc)	0.015	−0.592^***	−0.011	−0.001	0.277^**
Log(GDPpc)	(0.043)	(0.203)	(0.052)	(0.079)	(0.120)
Log(population)	0.132^***	−0.059	0.024	0.067	0.524^***
Log(population)	(0.028)	(0.108)	(0.032)	(0.050)	(0.114)
Region productivity	−0.115	1.171^***	−0.073	−0.268^*	−0.853^***
Region productivity	(0.084)	(0.369)	(0.104)	(0.159)	(0.218)
Region HC	0.579^***	−0.390	0.746^***	0.961^**	1.621^*
Region HC	(0.209)	(0.649)	(0.248)	(0.454)	(0.902)
Incentives	−0.051	−0.030	−0.130^*	0.053	−0.292
Incentives	(0.056)	(0.235)	(0.072)	(0.126)	(0.344)
Credit	0.000^***	−0.000	0.000	0.000	0.000^**
Credit	(0.000)	(0.00000)	(0.000)	(0.000)	(0.000)
Sector size	−0.298^***	−0.305^**	−0.302^***	−0.285^***	−0.264^***
Sector size	(0.033)	(0.124)	(0.041)	(0.036)	(0.043)
CL	1.559^***	1.456^**	1.431^***	1.957^***	3.357^***
CL	(0.206)	(0.727)	(0.247)	(0.222)	(0.290)
Sector HC	0.595^**	−0.229	0.622^*	0.407	0.838^**
Sector HC	(0.278)	(0.963)	(0.369)	(0.282)	(0.330)
Sector productivity	0.132^*	0.388	0.149	0.096	0.020
Sector productivity	(0.069)	(0.261)	(0.092)	(0.079)	(0.102)
Constant	−3.644^***	−10.714^***	−2.934^***	−3.909^***	−5.220^***
Constant	(0.501)	(2.753)	(0.665)	(0.984)	(1.984)
Fixed effects – UF	Yes	Yes	Yes	Yes	Yes
Fixed effects – activities	Yes	Yes	Yes	Yes	Yes
Observations	99,919	3,065	47,326	36,775	12,753
Pseudo R2	0.07	0.15	0.10	0.06	0.07
Log likelihood	−54737.750	−1658.514	−25890.140	−20160.710	−6223.971
Akaike Inf. Crit	109727.500	3535.029	52030.280	40567.430	12669.940

Note(s): ^*p $<$ 0.1; ^**p $<$ 0.05; ^***p $<$ 0.01

Robust standard-errors (clustered at the microregion and activity level) are in parentheses

Initial periods (t) are 2009 and 2014 and final (t+5) 2014 and 2019

The values in square brackets [ ] represent the average marginal effects

Source(s): Own elaboration

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