(1)

(2)

(3)

(4)

(5)

(6)

imup

imdown

im

imup_fe

imdown_fe

im_fe

openness

0.416***

−0.163

0.294**

0.525**

−0.537***

−0.007

(0.143)

(0.154)

(0.139)

(0.221)

(0.197)

(0.184)

hhsize

0.058**

−0.022

0.032

−0.089**

−0.028

−0.083**

(0.026)

(0.026)

(0.025)

(0.041)

(0.040)

(0.036)

edu_f

−0.149***

0.113***

−0.021

−0.057

0.093***

0.041

(0.023)

(0.023)

(0.022)

(0.037)

(0.036)

(0.033)

age

0.119***

−0.105***

−0.002

0.175***

−0.112*

0.002

(0.029)

(0.028)

(0.030)

(0.062)

(0.059)

(0.057)

age2

−0.001***

0.001***

−0.000

−0.003**

0.002

−0.000

(0.000)

(0.000)

(0.000)

(0.001)

(0.001)

(0.001)

age_f

−0.036

−0.086**

−0.110**

0.012

0.002

−0.038

(0.040)

(0.039)

(0.043)

(0.079)

(0.079)

(0.075)

age_f2

0.000

0.001**

0.001***

0.000

−0.000

0.000

(0.000)

(0.000)

(0.000)

(0.001)

(0.001)

(0.001)

edu

38.175*

36.604

67.953***

35.720

5.092

13.641

(22.926)

(23.014)

(22.174)

(56.582)

(48.265)

(45.559)

industry

−0.983

1.024*

0.239

2.243

−0.195

1.328

(0.643)

(0.614)

(0.591)

(1.845)

(1.581)

(1.512)

_cons

−1.824*

3.470***

2.901***

−4.808**

1.805

1.059

(1.068)

(1.027)

(1.088)

(2.144)

(1.909)

(1.818)

Obs.

1766

1766

1766

764

764

764

Pseudo R²

0.079

0.052

0.013

0.096

0.061

0.011