| Without Firm TFP | With Firm TFP | ||||
(1) | (2) | (3) | (4) | (5) | (6) | |
Capital-Labour ratio—1-year lag | 0.78*** (0.052) | 0.78*** (0.051) | 0.78*** (0.052) | 0.77*** (0.051) | 0.78*** (0.051) | 0.77*** (0.052) |
Firm TFP |
|
|
| 0.17 (0.11) | 0.17 (0.11) | 0.16 (0.11) |
Physical Infrastructure | 0.098** (0.043) | 0.088** (0.044) | 0.093** (0.045) | 0.093** (0.043) | 0.083* (0.044) | 0.089* (0.045) |
Banking Infrastructure | 0.087*** (0.031) | 0.094*** (0.030) | 0.090*** (0.032) | 0.080** (0.031) | 0.087*** (0.030) | 0.082** (0.032) |