Binary Logit

Binary Probit

No direction

Positive distance

Negative distance

No direction

Positive distance

Negative distance

Dist_insti*EXP

−0.196

(0.234)

−0.178

(0.305)

3.771*

(1.947)

−0.083

(0.124)

−0.081

(0.159)

2.307**

(1.000)

Dist_insti

−0.774***

(0.156)

−0.871***

(0.189)

−1.796***

(0.623)

−0.386***

(0.078)

−0.457***

(0.096)

−0.955***

(0.311)

Experienced

0.733***

(0.224)

0.644**

(0.306)

2.946**

(1.161)

0.370***

(0.116)

0.329**

(0.156)

1.723***

(0.608)

lngdp

0.118*

(0.072)

0.140*

(0.081)

0.100

(0.217)

0.054

(0.035)

0.070*

(0.040)

0.048

(0.093)

Trade

0.007***

(0.002)

0.009***

(0.003)

−0.009

(0.008)

0.003***

(0.001)

0.004***

(0.001)

−0.004

(0.003)

Raw

0.000

(0.003)

0.007

(0.004)

−0.009

(0.007)

0.000

(0.002)

0.004*

(0.002)

−0.004

(0.003)

Inter

0.021***

(0.007)

0.021***

(0.007)

0.019*

(0.011)

0.010***

(0.003)

0.011***

(0.004)

0.010*

(0.005)

Tech

−0.022**

(0.010)

−0.014

(0.012)

−0.056***

(0.020)

−0.010**

(0.005)

−0.005

(0.006)

−0.031***

(0.010)

Ruralp

0.022***

(0.008)

0.022**

(0.010)

0.012

(0.015)

0.010**

(0.004)

0.010**

(0.005)

0.005

(0.007)

lnrate

−0.029

(0.043)

−0.069

(0.050)

0.088

(0.074)

−0.018

(0.020)

−0.035

(0.026)

0.035

(0.034)

lndist

0.083

(0.190)

0.155

(0.237)

0.542

(0.473)

0.044

(0.096)

0.090

(0.125)

0.222

(0.223)

Sector

−0.569***

(0.165)

−0.668***

(0.192)

−0.477

(0.332)

−0.281***

(0.082)

−0.331***

(0.097)

−0.243

(0.161)

_cons

−2.860

(3.036)

−4.229

(3.451)

−6.163

(9.360)

−1.081

(1.493)

−2.081

(1.766)

−2.580

(4.141)

Sample size

2352

1611

741

2352

1611

741

Wald χ²

61.32***

58.68***

36.22***

58.06***

58.05***

34.85***

Loglikely-hood

−625.288

−447.947

−160.847

−626.252

−448.134

−160.747

LR χ²

74.58***

60.30***

44.45***

72.65***

59.93***

44.65***