	(1)	(2)	(3)	(4)	(5)
	first stage	second stage			
VARIABLES	impdid	Pul	Pul	Pul	Pul
					
Gov	0.0078	0.1832***	0.0044	0.0378	0.2786***
	(0.0641)	(0.0402)	(0.0894)	(0.1719)	(0.0946)
Pgdp	-0.1192**	0.1156***	0.1422***	0.2371*	0.1939***
	(0.0484)	(0.0303)	(0.0396)	(0.1394)	(0.0697)
Ind	0.4903**	0.4032***	0.3947*	-0.0824	0.2333
	(0.2077)	(0.1304)	(0.2133)	(0.5056)	(0.2384)
Fdi	-0.2667	0.1267	0.1147	-0.0602	0.2036
	(0.6806)	(0.4266)	(0.1402)	(0.2967)	(0.1448)
Market	0.0003	0.0237*	0.0127	0.0330	0.0489
	(0.0215)	(0.0134)	(0.0276)	(0.0429)	(0.0436)
Pop	0.8143	-0.1574	-14.1972**	-19.7931***	-20.0316***
	(0.8485)	(0.5319)	(5.7683)	(6.8996)	(6.8212)
Ftd	0.0105	0.1132***	0.2889***	0.3531***	0.2920***
	(0.0515)	(0.0323)	(0.0920)	(0.1093)	(0.0559)
IV	0.9773***				
	(0.0041)				
impdid		-0.0140***			
		(0.0026)			
did			-0.0785*	-0.1684**	-0.1268*
			(0.0419)	(0.0701)	(0.0735)
imr				0.2698	
				(0.4093)	
Constant	0.7819	2.9227***	4.4745***	3.3642**	3.7377***
	(0.5273)	(0.3306)	(0.5896)	(1.6610)	(0.9967)
					
Observations	3,990	3,990	1,666	2,394	2,152
R-squared	0.976	0.611	0.624	0.634	0.622
Standard errors in parentheses					
*** p<0.01, ** p<0.05, * p<0.1					
