Industry

Model 6 (Dependent variable LGVA)

Model 7 (Dependent variable LLP)

LPW

LMS

LMS

LPW

LMS

LPS

16 Tobacco

1.95

(3.68)*

−0.33

(−0.52)

−0.60

(−3.50)*

0.98

(1.85)**

−0.36

(−0.57)

−0.61

(−3.54)*

17 Textiles

2.43

(4.71)*

−1.20

(−2.66)*

−0.02

(−0.15)

1.70

(3.26)*

−1.47

(−3.25)*

−0.05

(−0.30)

18 Apparel

0.44

(2.50)*

0.70

(4.18)*

0.20

(2.86)*

−0.51

(−2.79)*

0.66

(3.86)*

0.19

(2.63)*

19 Leather products

1.26

(3.15)*

0.18

(0.42)

−0.20

(−1.63)

0.37

(0.88)

0.08

(0.18)

−0.24

(−1.84)**

20 Woodland products

1.49

(3.24)*

−0.28

(−0.54)

0.06

(0.24)

0.65

(1.38)

−0.44

(−0.84)

0.03

(0.11)

21 Paper products

1.69

(3.18)

−0.13

(−0.26)

−0.30

(−2.35)

0.89

(1.68)**

−0.33

(−0.63)

−0.34

(−2.62)*

23 Coke/petroleum products

4.13

(3.83)*

3.19

(2.91)*

0.39

(1.26)

3.38

(3.11)*

3.43

(3.12)*

0.35

(1.13)

24 Chemical products

3.42

(16.75)*

1.86

(9.50)*

−0.35

(−2.98)*

2.64

(12.63)*

2.08

(10.37)*

−0.38

(−3.19)*

27 Basic metals

1.31

(3.63)*

0.14

(0.36)

−0.14

(−0.83)

0.55

(1.47)

−0.07

(−0.19)

−0.20

(−1.09)

29 Machinery & equipment

2.13

(4.36)*

−0.40

(−0.99)

−0.48

(−2.01)*

1.49

(3.00)*

−0.74

(−1.78)*

−0.54

(−2.26)*

34 Motor vehicles, trailers & semi-trailers

2.76

(8.47)*

−1.176

(−3.72)*

−0.39

(−3.87)*

2.07

(6.44)*

−1.48

(−4.76)*

−0.43

(−4.32)*

Overall

0.37

(1.97)*

0.11

(2.71)*

0.24

(0.89)

0.15

(2.95)*

0.26

(2.34)*

0.21

(0.80)