(1)

lnexport

(2)

labor

(3)

middle

(4)

micap

(5)

captech

llnofdi_s

0.110***

−0.000

0.116***

0.115***

0.109***

(0.019)

(0.007)

(0.019)

(0.018)

(0.019)

lnpgdp

−0.521

−0.244

−0.683

−0.187

−0.290

(0.525)

(0.150)

(0.532)

(0.510)

(0.504)

lngdp

2.722***

0.154

2.784***

2.535***

2.757***

(0.479)

(0.122)

(0.456)

(0.465)

(0.461)

fta

0.113*

0.003

0.200***

0.153***

0.108

(0.061)

(0.025)

(0.066)

(0.055)

(0.070)

lntar

−0.173***

−0.011

−0.155**

−0.144**

−0.142**

(0.060)

(0.021)

(0.060)

(0.058)

(0.061)

lnrate

−0.120

0.032

−0.132

−0.147

−0.152

(0.091)

(0.020)

(0.090)

(0.100)

(0.106)

lnraw

0.123***

−0.010

0.114***

0.128***

0.136***

(0.037)

(0.016)

(0.034)

(0.036)

(0.045)

_cons

−24.760***

−3.816*

−27.423***

−21.260***

−24.687***

(7.747)

(2.005)

(7.531)

(7.570)

(7.490)

N

1249

1249

1076

1246

1249

R2

0.730

0.009

0.713

0.721

0.680