|
| Without Firm TFP | With Firm TFP | ||||
| (1) | (2) | (3) | (4) | (5) | (6) | |
| Capital-Labour ratio—1-year lag | 0.83*** (0.040) | 0.83*** (0.041) | 0.82*** (0.044) | 0.83*** (0.041) | 0.83*** (0.042) | 0.82*** (0.045) |
| Firm TFP |
|
|
| 0.25** (0.10) | 0.23** (0.10) | 0.18* (0.10) |
| Physical Infrastructure | 0.080*** (0.029) | 0.075** (0.032) | 0.087** (0.035) | 0.067** (0.029) | 0.062* (0.033) | 0.075** (0.037) |
| Banking Infrastructure | 0.066** (0.026) | 0.073*** (0.026) | 0.065** (0.028) | 0.056** (0.027) | 0.063** (0.027) | 0.055* (0.028) |
| Labour Disputes | −0.0015 (0.030) |
|
| 0.021 (0.030) |
|
|
| Labour Disputes—1-year lag |
| 0.026 (0.030) |
|
| 0.044 (0.034) |
|
| Labour Disputes—2-years lag |
|
| −0.0067 (0.031) |
|
| 0.014 (0.033) |
| Labour Disputes Interacted with Group Dummies | ||||||
| Group 1 | 0.021 (0.031) | −0.0023 (0.031) | 0.031 (0.034) | −0.0049 (0.030) | −0.023 (0.034) | 0.0065 (0.036) |
| Group 2 | 0.017 (0.039) | −0.060* (0.036) | −0.0082 (0.039) | 0.0012 (0.038) | −0.072* (0.038) | −0.029 (0.044) |
| Group 3 | −0.011 (0.032) | −0.048 (0.034) | −0.0048 (0.036) | −0.026 (0.033) | −0.059 (0.037) | −0.016 (0.037) |
| Number of observations | 1220 | 1225 | 1225 | 1140 | 1150 | 1155 |
| F-statistic | 239.1 | 238.3 | 214.7 | 206.7 | 209.2 | 200.6 |
| Prob > F | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| R-squared | 0.81 | 0.81 | 0.80 | 0.82 | 0.81 | 0.80 |
| Root MSE | 0.35 | 0.36 | 0.36 | 0.35 | 0.35 | 0.36 |