	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)
	reg1	reg2	reg3	reg4	reg5	reg6	reg7	reg8
VARIABLES	lnMerge_OFDI_sum18	lnMerge_OFDI_sum18	lnMerge_OFDI_sum18	lnMerge_OFDI_sum18	lnMerge_OFDI_sum18	lnMerge_OFDI_sum18	lnMerge_OFDI_sum18	lnMerge_OFDI_sum18
								
Bartik_ex_JPM_USratio	-1.9901***	-2.5687***	-2.0935***	-2.6628***	-1.9756***	-2.8228***	-1.9074***	-2.8003***
	(0.6068)	(0.9459)	(0.7815)	(0.9212)	(0.7438)	(0.8387)	(0.6945)	(0.7744)
lnL1y_Merge_OFDI_sum17	-0.9114***							
	(0.0351)							
Bartik_im_JPM_USratio		0.7404*						
		(0.4184)						
								
Observations	5,136	5,136	5,136	5,136	5,136	5,136	5,136	5,136
Adjusted R-squared	0.8405	0.6921	0.7974	0.7200	0.7991	0.7124	0.8055	0.6973
Robust standard errors in parentheses								
*** p<0.01, ** p<0.05, * p<0.1								
