Table 8 Extended labor demand model by region: IV-panel fixed effects

Ln (V)

0.3352***

0.3631***

0.2503***

0.4066***

0.3084***

0.3115***

0.6764***

(0.0502)

(0.0350)

(0.0335)

(0.0286)

(0.0158)

(0.0220)

(0.0139)

M/(M + Y)

0.0784

−0.6395***

−0.6473***

−0.2628**

−0.3702***

−0.4983***

0.0200

(0.1441)

(0.1099)

(0.1161)

(0.1159)

(0.0599)

(0.0836)

(0.0494)

X/Y

0.0002

0.0338

0.0430***

−0.0012

0.0188***

0.0068

0.0126***

(0.0308)

(0.0335)

(0.0088)

(0.0084)

(0.0060)

(0.0102)

(0.0033)

Ln (w)

−0.4880***

−0.4128***

−0.3239***

−0.4079***

−0.3674***

−0.2919***

−0.6771***

(0.0344)

(0.0240)

(0.0253)

(0.0245)

(0.0124)

(0.0194)

(0.0122)

Ln (w)*s

0.0731***

0.0209***

0.0747***

0.1174***

0.0378***

0.0203***

0.0989***

(0.0107)

(0.0033)

(0.0087)

(0.0102)

(0.0027)

(0.0017)

(0.0032)

Ln (HS)

1.0269***

0.1124^b

2.2233***

0.2012

0.2922***

0.7878***

0.1813^d

(0.2831)

(0.0762)

(0.4782)

(0.3500)

(0.0565)

(0.1338)

(0.1194)

Ln (CX)

0.4071^a

0.0289

0.1368

−0.1497

0.0705

0.1752

0.0307

(0.2527)

(0.1928)

(0.1635)

(0.1641)

(0.0964)

(0.1902)

(0.0542)

I/Y

0.4089**

0.0925**

−0.0805

0.0234

0.0315^c

−0.0067

0.0810^b

(0.1927)

(0.0418)

(0.0641)

(0.0246)

(0.0201)

(0.0189)

(0.0547)

Constant

−2.9992

4.1023***

−10.0472***

4.0980*

3.5978***

−1.3813

0.1106

(2.1329)

(1.1365)

(3.3685)

(2.3353)

(0.6381)

(1.3317)

(0.9039)

Observations

534

1104

1322

1551

4511

2211

6357

Number of industries

57

131

201

148

537

352

716