Effect of regional factor productivity on manufacturing sector: The case of Sino-Pak economic ties

Financial Innovation

Table 2 Market share of China and Pakistan

Independent Var. Impact on choice of market	China				Pakistan
Independent Var. Impact on choice of market	(i)	(ii)	(iii)	(iv)	(v)	(vi)	(vii)	(viii)
\( {\mathcal{L}}_i \)	.882(.270)^***	.029(.033)^*	−.021(.037) ^*	−.069(.016)^***	1.715 (.171)^***	.665(.189)^***	−.037 (.101)^*	−.108(.104)^*
λ_i	_	.919(.016)^***	.642(.073)^***	.368(.048)^***	_	.688(.106)^***	.458(.059)^***	.518(.097)^***
p_i	_	_	.081 (.129)*	−.008(.053)^*	_	_	.4491(.050)^***	.197(.101)^***
y_i	_	_	.317(.093)^***	.512(.059)^***	_	_	.202(.090)^***	.031(.098)^*
ϕ_i	_	_	_	−.065(.015)^***	_	_	_	−.001(.017)^*
V_Xi	_	_	_	.163(.017)^***	_	_	_	.119(.038)^***
V_Mi	_	_	_	.022(.013)^**	_	_	_	.127(.053)^***
Cons.	.012 (.002)^***	.003(.001)^***	−.0009 (.004)^*	.004(.002)^***	−.033 (.009)^***	−.016(.007)^*	−.004(.002)^*	.006(.004)^*
No. of Obs.	21	21	21	21	21	21	21	21
Panel-specific AR(1)	0.831	0.188	0.074	0.208	0.664	0.809	0.043	0.006
Wald Chi2(1)	10.63	12,698.77	19,814.95	112,881.24	101.04	187.09	4786.29	9446.96
Prob > chi2	0.001	0.000	0.000	0.000	0.000	0.000	0.000	0.000

***p < 0.01, ** 0.01 ≤ p < 0.05, * 0.05 ≤ p < 0. 10, standard errors are included in parenthesis. y stands for industrial value-added share, λ for capital share, \( \mathcal{L} \) for labor share, V_X, V_M represent value-added export and import, respectively. ϕ explains the volume of foreign direct investment and p stands for consumer price index, respectively