| Without Firm TFP | With Firm TFP | ||||
(1) | (2) | (3) | (4) | (5) | (6) | |
Capital-Labour ratio—1-year lag | 0.87*** (0.024) | 0.87*** (0.024) | 0.87*** (0.024) | 0.87*** (0.023) | 0.87*** (0.023) | 0.88*** (0.022) |
Firm TFP |
|
|
| 0.025 (0.078) | 0.00095 (0.074) | −0.039 (0.072) |
Physical Infrastructure | 0.064** (0.027) | 0.067** (0.027) | 0.068** (0.028) | 0.049** (0.025) | 0.054** (0.025) | 0.052* (0.026) |
Banking Infrastructure | 0.075*** (0.025) | 0.072*** (0.025) | 0.067*** (0.024) | 0.065*** (0.025) | 0.063** (0.025) | 0.057** (0.024) |
Labour Disputes | 0.029 (0.032) |
|
| 0.032 (0.029) |
|
|
Labour Disputes—1-year lag |
| 0.014 (0.029) |
|
| 0.0094 (0.033) |
|
Labour Disputes—2-years lag |
|
| −0.024 (0.021) |
|
| −0.024 (0.028) |
Labour Disputes Interacted with Group Dummies | ||||||
Group 1 | −0.010 (0.033) | 0.0011 (0.030) | 0.034 (0.023) | −0.017 (0.030) | 0.0018 (0.033) | 0.029 (0.028) |
Group 2 | −0.043 (0.038) | −0.024 (0.034) | 0.022 (0.031) | −0.059 (0.038) | −0.031 (0.034) | 0.0042 (0.034) |
Group 3 | −0.052 (0.035) | −0.035 (0.032) | 0.0064 (0.021) | −0.053 (0.034) | −0.029 (0.034) | 0.012 (0.026) |
Number of observations | 1220 | 1225 | 1225 | 1140 | 1150 | 1155 |
F-statistic | 616.1 | 592.3 | 626.8 | 783.8 | 727.8 | 693.4 |
Prob > F | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
R-squared | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
Root MSE | 0.31 | 0.32 | 0.32 | 0.31 | 0.31 | 0.31 |