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1

2

3

4

16,318

16,338

16,346

16,340

Deep restr

Deep restr

Intro new

Discontinued

index (4)

index (2)

prod

prod line

0.081**

0.098**

0.077

-0.009

(0.026)

(0.030)

(0.047)

(0.038)

-0.085**

-0.123**

-0.128**

0.020

(0.007)

(0.011)

(0.014)

(0.011)

-0.037**

-0.068**

-0.087**

0.015

(0.006)

(0.009)

(0.011)

(0.009)

0.036**

0.040**

0.042**

0.018**

(0.001)

(0.002)

(0.003)

(0.002)

0.026**

0.030**

0.046**

0.016**

(0.004)

(0.007)

(0.008)

(0.006)

-0.018

-0.013

-0.019

0.013

(0.011)

(0.017)

(0.021)

(0.017)

-0.003

-0.003

0.007

0.017*

(0.006)

(0.009)

(0.010)

(0.008)

. 0 045**

. 0 069**

. 0 066**

. -0 017

(0.006)

(0.009)

(0.011)

(0.009)

0.046**

0.073**

0.072**

0.004

(0.005)

(0.008)

(0.009)

(0.008)

0.020**

0.027**

0.026*

0.018*

(0.006)

(0.009)

(0.010)

(0.008)

0.005*

0.012**

0.009*

0.006

(0.002)

(0.003)

(0.004)

(0.003)

0.016**

0.020**

0.019**

0.021**

(0.002)

(0.003)

(0.004)

(0.003)

0.024**

0.035**

0.031**

0.015**

(0.002)

(0.003)

(0.004)

(0.003)

-0.003

-0.009

-0.012

0.010

(0.006)

(0.009)

(0.010)

(0.008)

0.069**

0.092**

0.096**

0.037**

(0.005)

(0.008)

(0.009)

(0.008)

-0.075**

-0.131**

-0.115**

-0.085**

(0.007)

(0.010)

(0.012)

(0.010)

-0.035**

-0.038**

-0.056**

-0.050**

(0.006)

(0.008)

(0.010)

(0.008)

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

0.169

0.151

0.104

0.066

Table VI.2: Determinants of deep restructuring in TEs Model :

  • #

    obs :

Dep var:

intcpt

State

Privatized

Log employment

Big city dummy

No competitors

>3 competitors

Price elast 1 – inelastic

Price elast 2 – slightly elastic

Price elast 3 – elastic

Pressure from dom compet

Pressure from foreign compet

Pressure from customers

Majority foreign ownership

Exporter dummy

1999 dummy

2005 dummy

Sector controls Country dummies R-sq Standard specifications, dep.vars.: strategic restructuring 4-vars index, strategic restructuring 2-vars index, introduction of new product (yq60a1), defensive restructuring 2 vars index, discontinuation of a product, labor shedding (at least 10%), majority foreign ownership and export dummies. “Very elastic” is omitted price elasticity category. (standard errors in parentheses with p<0.05 = *, p<0.01 = **)

68

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