|
| First Stage | First Stage | First Stage | Second Stage | Second Stage |
|
| UNION | FDI | TARIFF | C3UNION | C3UNIONCOV |
| LWPEN | −0.024 | −0.008 | −0.004 | −1.99 | −2.01 |
| [0.967] | [0.741] | [0.163] | [0.001] | [0.001] | |
| FDI |
|
|
| 2.77 | 2.75 |
|
|
|
| [0.195] | [0.186] | |
| TARIFF |
|
|
| 0.904 | −0.756 |
|
|
|
| [0.936] | [0.947] | |
| UNION |
|
|
| −0.24 |
|
|
|
|
| [0.017] |
| |
| UNIONCOV |
|
|
|
| −0.21 |
|
|
|
|
| [0.039] | |
| Instrument: Lag1(UNION) | 0.645 | −0.002 | −0.001 |
|
|
| [0.000] | [0.135] | [0.227] |
|
| |
| Instrument: Lag1(FDI) | −0.946 | 0.411 | −0.009 |
|
|
| [0.230] | [0.009] | [0.170] |
|
| |
| Instrument: Lag1(TARIFF) | 2.145 | −0.048 | 0.810 |
|
|
| [0.751] | [0.184] | [0.000] |
|
| |
| Industry Fixed Effects | Included | Included | Included | Included | Included |
| Year Fixed Effects and Constant | Included | Included | Included | Included | Included |
| N | 438 | 438 | 438 | 438 |
|
| R2 | 0.40 | 0.18 | 0.70 | 0.19 |
|
| UWETS |
|
|
| 5.17b | 9.83a |
| WWETS |
|
|
| 25.21 | 5.86 |