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IZA Journal of European Labor Studies

Table 2 Estimation results for annual average firm growth in 2009

From: Institutional barriers and job creation in Central and Eastern Europe

Variables

No regulations

Overall inst.

Inst. regulation

Access to finance

Crime

Corruption

Tax

Labor regulation

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

Firm characteristics

Initial size

−0.073***

−0.075***

−0.075***

−0.075***

−0.075***

−0.075***

−0.075***

−0.075***

(0.005)

(0.006)

(0.006)

(0.006)

(0.006)

(0.006)

(0.006)

(0.006)

Age

−0.038***

−0.054***

−0.054***

−0.054***

−0.054***

−0.054***

−0.054***

−0.055***

(0.003)

(0.006)

(0.006)

(0.006)

(0.006)

(0.006)

(0.005)

(0.006)

Initial size × age

0.016***

0.016***

0.016***

0.016***

0.016***

0.016***

0.016***

0.016***

(0.001)

(0.002)

(0.002)

(0.002)

(0.002)

(0.002)

(0.002)

(0.002)

TFP

 

0.039***

0.039***

0.039***

0.039***

0.039***

0.039***

0.039***

 

(0.002)

(0.002)

(0.002)

(0.002)

(0.002)

(0.002)

(0.002)

Foreign owner

-

0.039***

0.039***

0.039***

0.040***

0.040***

0.039***

0.040***

-

(0.011)

(0.011)

(0.011)

(0.011)

(0.011)

(0.011)

(0.011)

Industry characteristics

Agriculture

0.026**

−0.065***

−0.055***

−0.058***

−0.062***

−0.048***

−0.059***

−0.053***

(0.012)

(0.008)

(0.006)

(0.009)

(0.007)

(0.011)

(0.014)

(0.009)

Mining

0.032***

-

-

-

-

-

-

-

(0.013)

-

-

-

-

-

-

-

Construction

−0.035***

−0.050***

−0.040**

−0.044**

−0.049***

−0.031*

−0.047**

−0.035**

(0.010)

(0.016)

(0.015)

(0.018)

(0.016)

(0.016)

(0.017)

(0.014)

Manufacturing

−0.018

−0.074***

−0.066***

−0.070***

−0.071***

−0.070***

−0.070***

−0.065***

(0.013)

(0.018)

(0.020)

(0.018)

(0.026)

(0.021)

(0.017)

(0.021)

Wholesale

−0.004

−0.017**

−0.006

−0.012

−0.016***

−0.007

−0.013

−0.010*

(0.006)

(0.007)

(0.005)

(0.008)

(0.006)

(0.005)

(0.010)

(0.006)

Transport

−0.002

−0.042***

−0.034***

−0.038***

−0.042***

−0.037***

−0.042***

−0.041***

(0.009)

(0.008)

(0.006)

(0.008)

(0.007)

(0.005)

(0.009)

(0.007)

Overall inst.a)

-

−0.011

−0.005

−0.004

−0.014

−0.008

−0.012

−0.004

-

(0.015)

(0.011)

(0.016)

(0.026)

(0.009)

(0.013)

(0.011)

Inst. regulation

-

-

−0.016

-

-

-

-

-

-

-

(0.012)

-

-

-

-

-

Access to finance

-

-

-

−0.011

-

-

-

-

-

-

-

(0.008)

-

-

-

-

Crime

-

-

-

-

0.005

-

-

-

-

-

-

-

(0.020)

-

-

-

Corruption

-

-

-

-

-

−0.027

-

-

-

-

-

-

-

(0.020)

-

-

Taxation

-

-

-

-

-

-

−0.010

-

-

-

-

-

-

-

(0.012)

 

Labor regulations

-

-

-

-

-

-

-

−0.026

-

-

-

-

-

-

-

(0.017)

Fixed effects

Country

69.04***

67.76***

68.37***

67.64***

52.62***

82.22***

69.19***

98.15***

R 2

0.040

0.050

0.050

0.050

0.050

0.050

0.050

0.050

Observations

299,695

71,157

71,201

71,162

71,157

71,157

71,157

71,157

  1. Notes: The dependent variable is the yearly employment growth rate for the period 2008–2009. Constant not reported. Clustered standard errors (at the 2-digit industry level) in parenthesis. *, ** and *** denote significance at 10 percent, 5 percent and 1 percent levels, respectively. a) In columns (3)-(8) the overall institutional barriers are calculated without including the questions on the respective specific institutional barrier investigated.
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