Services Development and Comparative Advantage in Manufacturing
Figures and Tables
Table 2
Table 2: The effects of services development on manufacturing export RCA, using U.S. services input intensity averaged over 1995-2007
|
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
|
Df
|
-5.102*** (1.733) |
|
|
|
|
|
|
Df*SIIf |
111.109*** |
|
|
111.829*** |
|
|
|
|
(35.993) |
|
|
(37.762) |
|
|
|
Db
|
|
0.857 (2.066) |
|
|
|
|
|
Db*SIIb |
|
38.719*** |
|
|
39.306*** |
|
|
|
|
(12.895) |
|
|
(13.937) |
|
|
Dfb
|
|
|
-3.240** (1.405) |
|
|
|
|
Dfb*SIIfb |
|
|
27.217*** |
|
|
27.721*** |
|
|
|
|
(6.695) |
|
|
(7.182) |
|
log(GDP/capita) |
0.153 |
0.008 |
0.084 |
|
|
|
|
|
(0.168) |
(0.160) |
(0.168) |
|
|
|
|
TFP |
0.069*** |
0.075*** |
0.072*** |
0.064** |
0.066** |
0.065** |
|
|
(0.022) |
(0.021) |
(0.022) |
(0.029) |
(0.028) |
(0.028) |
|
log(emp) |
0.938*** |
0.935*** |
0.952*** |
0.958*** |
0.952*** |
0.970*** |
|
|
(0.091) |
(0.092) |
(0.092) |
(0.098) |
(0.099) |
(0.099) |
|
SKratio |
0.588 |
0.521 |
0.542 |
0.802 |
0.833 |
0.796 |
|
|
(0.621) |
(0.636) |
(0.638) |
(0.801) |
(0.826) |
(0.822) |
|
K/L |
0.069*** |
0.066*** |
0.067*** |
0.071*** |
0.068*** |
0.069*** |
|
|
(0.025) |
(0.025) |
(0.025) |
(0.026) |
(0.026) |
(0.026) |
|
rwage |
-0.001 |
-0.001 |
-0.001 |
-0.000 |
-0.001 |
0.001 |
|
|
(0.007) |
(0.007) |
(0.007) |
(0.009) |
(0.008) |
(0.009) |
|
GVC Participation |
2.463*** |
2.452*** |
2.470*** |
2.577*** |
2.558*** |
2.584*** |
|
|
(0.448) |
(0.445) |
(0.444) |
(0.500) |
(0.497) |
(0.495) |
|
Country FEs |
Yes |
Yes |
Yes |
|
|
|
|
Sector FEs |
Yes |
Yes |
Yes |
|
|
|
|
Year FEs |
Yes |
Yes |
Yes |
|
|
|
|
Country*Year FEs |
|
|
|
Yes |
Yes |
Yes |
|
Sector*Year FEs |
|
|
|
Yes |
Yes |
Yes |
|
Observations |
5,686 |
5,686 |
5,686 |
5,686 |
5,686 |
5,686 |
|
R-squared |
0.575 |
0.575 |
0.581 |
0.593 |
0.593 |
0.599 |
Notes: The dependent variable is manufacturing export RCA. Df (Db) refers to the share of financial (business) services value added in GDP. Dfb equals the sum of Df and Db. Sf is the ratio of the U.S. embodied domestic financial services to U.S.’ manufacturing value added, averaged over 1995-2007. All WIOD manufacturing sectors 3-16 are covered (not grouped together). Robust standard errors in parentheses, clustered by country*sector. *** p<0.01, ** p<0.05, * p<0.1.