variable | Net accounts receivable/sales volume | |||
(1) | (2) | (3) | (4) | |
Federal effective fund rate measures the USMP | Incorporated into export enterprises | |||
FDI × USMP | −0.928** | −0.798** | −0.653*** | −0.578*** |
| (−2.348) | (−2.019) | (−3.647) | (−3.227) |
Constant | −25.949*** | −17.193** | −10.770** | −4.514 |
| (−3.371) | (−2.195) | (−2.573) | (−1.059) |
Enterprise FE | yes | yes | yes | yes |
Time FE | yes | yes | yes | yes |
Control variables at the national level | deny | yes | deny | yes |
Obs | 16,063 | 16,063 | 41,245 | 41,245 |
R-squared | 0.709 | 0.711 | 0.641 | 0.642 |