Table 2. Open in new tab Aggregated and...

(1)

(2)

(2B)

(3)

(4)

(4B)

(5)

(6)

(6B)

(7)

(8)

(9)

(10)

Agg.

Sec.

Agg.

Sec.

Agg.

Sec.

Agg.

GDP

−40.78**

−71.32**

−75.74***

−43.61***

−75.32***

−75.48***

−117.94***

−117.03***

−96.83***

−125.53***

−144.61***

−137.06***

−201.91***

(17.38)

(29.86)

(19.99)

(16.20)

(24.56)

(17.54)

(31.75)

(31.79)

(21.75)

(34.18)

(40.82)

(36.20)

(37.43)

GDP²

2.61**

4.33**

4.62***

2.81***

4.89***

4.80***

7.66***

7.59***

6.32***

8.09***

9.22***

8.73***

12.99***

(1.12)

(1.92)

(1.26)

(1.03)

(1.59)

(1.12)

(1.99)

(2.00)

(1.31)

(2.12)

(2.58)

(2.33)

(2.40)

I/Y

1.36

1.64

2.00

2.23

1.56

(1.73)

(2.12)

(2.66)

(2.57)

(1.88)

(I/Y)_s

−0.01

(0.02)

School

−0.60

0.64

−0.12

0.86

(1.62)

(1.81)

(2.23)

(3.23)

OPENT

−0.04

−0.06

−0.08*

(0.07)

(0.06)

(0.04)

OPENK

1.12

1.01

0.87

(0.83)

(1.01)

Urban

0.24

−0.04

(0.32)

(0.30)

Work.Age

0.38

2.53***

(0.49)

(0.75)

G/Y

26.54*

(13.72)

Asso

2.18**

(0.88)

Country FE

Yes

Time FE

Yes

Country*Sector FE

Yes

Time*Sector FE

Yes

R-sq.

0.05

0.67

0.36

0.09

0.70

0.39

0.76

0.38

0.74

0.77

0.83

No. of Obs.

1578

28030

1578

28030

927

16262

843

645

437

Table 2.

Open in new tab

Aggregated and Sectoral Data on the Manufacturing Sector (UNIDO)

	(1)	(2)	(2B)	(3)	(4)	(4B)	(5)	(6)	(6B)	(7)	(8)	(9)	(10)
	Agg.	Agg.	Sec.	Agg.	Agg.	Sec.	Agg.	Agg.	Sec.	Agg.	Agg.	Agg.	Agg.
GDP	−40.78**	−71.32**	−75.74***	−43.61***	−75.32***	−75.48***	−117.94***	−117.03***	−96.83***	−125.53***	−144.61***	−137.06***	−201.91***
	(17.38)	(29.86)	(19.99)	(16.20)	(24.56)	(17.54)	(31.75)	(31.79)	(21.75)	(34.18)	(40.82)	(36.20)	(37.43)
GDP²	2.61**	4.33**	4.62***	2.81***	4.89***	4.80***	7.66***	7.59***	6.32***	8.09***	9.22***	8.73***	12.99***
	(1.12)	(1.92)	(1.26)	(1.03)	(1.59)	(1.12)	(1.99)	(2.00)	(1.31)	(2.12)	(2.58)	(2.33)	(2.40)
I/Y								1.36		1.64	2.00	2.23	1.56
								(1.73)		(2.12)	(2.66)	(2.57)	(1.88)
(I/Y)_s									−0.01
									(0.02)
School										−0.60	0.64	−0.12	0.86
										(1.62)	(1.81)	(2.23)	(3.23)
OPENT											−0.04	−0.06	−0.08*
											(0.07)	(0.06)	(0.04)
OPENK											1.12	1.01	0.87
											(0.83)	(0.83)	(1.01)
Urban												0.24	−0.04
												(0.32)	(0.30)
Work.Age												0.38	2.53***
												(0.49)	(0.75)
G/Y													26.54*
													(13.72)
Asso													2.18**
													(0.88)
Country FE	No	Yes	No	No	Yes	No	Yes	Yes	No	Yes	Yes	Yes	Yes
Time FE	No	No	No	Yes	Yes	No	Yes	Yes	No	Yes	Yes	Yes	Yes
Country*Sector FE	No	No	Yes	No	No	Yes	No	No	Yes	No	No	No	No
Time*Sector FE	No	No	No	No	No	Yes	No	No	Yes	No	No	No	No
R-sq.	0.05	0.67	0.36	0.09	0.70	0.39	0.76	0.76	0.38	0.74	0.77	0.77	0.83
No. of Obs.	1578	1578	28030	1578	1578	28030	927	927	16262	843	645	645	437

	(1)	(2)	(2B)	(3)	(4)	(4B)	(5)	(6)	(6B)	(7)	(8)	(9)	(10)
	Agg.	Agg.	Sec.	Agg.	Agg.	Sec.	Agg.	Agg.	Sec.	Agg.	Agg.	Agg.	Agg.
GDP	−40.78**	−71.32**	−75.74***	−43.61***	−75.32***	−75.48***	−117.94***	−117.03***	−96.83***	−125.53***	−144.61***	−137.06***	−201.91***
	(17.38)	(29.86)	(19.99)	(16.20)	(24.56)	(17.54)	(31.75)	(31.79)	(21.75)	(34.18)	(40.82)	(36.20)	(37.43)
GDP²	2.61**	4.33**	4.62***	2.81***	4.89***	4.80***	7.66***	7.59***	6.32***	8.09***	9.22***	8.73***	12.99***
	(1.12)	(1.92)	(1.26)	(1.03)	(1.59)	(1.12)	(1.99)	(2.00)	(1.31)	(2.12)	(2.58)	(2.33)	(2.40)
I/Y								1.36		1.64	2.00	2.23	1.56
								(1.73)		(2.12)	(2.66)	(2.57)	(1.88)
(I/Y)_s									−0.01
									(0.02)
School										−0.60	0.64	−0.12	0.86
										(1.62)	(1.81)	(2.23)	(3.23)
OPENT											−0.04	−0.06	−0.08*
											(0.07)	(0.06)	(0.04)
OPENK											1.12	1.01	0.87
											(0.83)	(0.83)	(1.01)
Urban												0.24	−0.04
												(0.32)	(0.30)
Work.Age												0.38	2.53***
												(0.49)	(0.75)
G/Y													26.54*
													(13.72)
Asso													2.18**
													(0.88)
Country FE	No	Yes	No	No	Yes	No	Yes	Yes	No	Yes	Yes	Yes	Yes
Time FE	No	No	No	Yes	Yes	No	Yes	Yes	No	Yes	Yes	Yes	Yes
Country*Sector FE	No	No	Yes	No	No	Yes	No	No	Yes	No	No	No	No
Time*Sector FE	No	No	No	No	No	Yes	No	No	Yes	No	No	No	No
R-sq.	0.05	0.67	0.36	0.09	0.70	0.39	0.76	0.76	0.38	0.74	0.77	0.77	0.83
No. of Obs.	1578	1578	28030	1578	1578	28030	927	927	16262	843	645	645	437

Source: The labor share, I/Y and (I/Y)s come from the United Nations Industrial Development Organization (UNIDO 2005); GDP and G/Y come from the Penn World Table (2015); School variable comes from the Barro and Lee database (2001); OPENT, Urban and Work.Age variables come from the World Development Indicators; OPENK variable comes from Chinn and Ito (2006); Asso. Variable comes from the Cingranelli-Richards (CIRI) Human Rights Dataset (2010).

Note: Dependent variable = Ratio of total wage bill over value added (Labor share), in %; GDP = Logarithm of the GDP per capita (at 2011 constant prices); I/Y = Ratio of investment over value added (at the aggregate manufacturing level); (I/Y)s = Ratio of investment over value added (at the subsectoral level); School = Average years of schooling in the total population aged 25 and more; OPENT = Ratio of imports plus exports over GDP, in %; OPENK = Index of financial openness; Urban = Share of urban population, in %; Work.Age = Share of population between the ages of 15 to 64, in %; G/Y = Ratio of government consumptions over GDP; Asso. = Freedom of assembly and association index; Clustered standard errors in brackets. *p < 0.10, **p < 0.05, ***p < 0.01.

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