Margins of select over aggregate									
		(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)
VARIABLES	LABELS	0b.select_received	1.select_received	0b.select_received	1.select_received	0b.select_received	1.select_received	0b.select_received	1.select_received
									
1bno.industry_section	(first) ISIC_section = 1bn,	-							
									
6o.industry_section	(first) ISIC_section = 6, omitted	-							
									
11o.industry_section	(first) ISIC_section = 11, omitted	-							
									
12o.industry_section	(first) ISIC_section = 12, omitted	-							
									
14o.industry_section	(first) ISIC_section = 14, omitted	-							
									
17o.industry_section	(first) ISIC_section = 17, omitted	-							
									
18o.industry_section	(first) ISIC_section = 18, omitted	-							
									
20o.industry_section	(first) ISIC_section = 20, omitted	-							
									
1bn.industry_section	(first) ISIC_section = 1b,		-0.036***						
			(0.012)						
6.industry_section	(first) ISIC_section = 6, Construction		-0.027***						
			(0.009)						
11.industry_section	(first) ISIC_section = 11, Information and communication		-0.030***						
			(0.010)						
12.industry_section	(first) ISIC_section = 12, Manufacturing		-0.036***						
			(0.012)						
14.industry_section	(first) ISIC_section = 14, Other service activities		-0.029***						
			(0.010)						
17.industry_section	(first) ISIC_section = 17, Retail Trade Of		-0.035***						
			(0.011)						
18.industry_section	(first) ISIC_section = 18, Transportation and storage		-0.031***						
			(0.010)						
20.industry_section	(first) ISIC_section = 20, Wholesale Trade Of		-0.028***						
			(0.009)						
1bno.income_group	INCOME_GROUP = 1bn,			-					
									
2o.income_group	INCOME_GROUP = 2, omitted			-					
									
3o.income_group	INCOME_GROUP = 3, omitted			-					
									
4o.income_group	INCOME_GROUP = 4, omitted			-					
									
1bn.income_group	INCOME_GROUP = 1b,				-0.018***				
					(0.006)				
2.income_group	INCOME_GROUP = 2, Low income				-0.055***				
					(0.017)				
3.income_group	INCOME_GROUP = 3, Lower middle income				-0.039***				
					(0.013)				
4.income_group	INCOME_GROUP = 4, Upper middle income				-0.034***				
					(0.011)				
1bno.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 1bn,					-			
									
2o.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 2, omitted					-			
									
3o.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 3, omitted					-			
									
4o.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 4, omitted					-			
									
1bn.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 1b,						-0.056***		
							(0.016)		
2.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 2						-0.034***		
							(0.010)		
3.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 3						-0.029***		
							(0.009)		
4.Fin_Dev_Inst_Aggregate_quartile	Quartile Financial Development Index = 4						-0.021***		
							(0.007)		
1bno.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 1bn,							-	
									
2o.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 2, omitted							-	
									
3o.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 3, omitted							-	
									
4o.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 4, omitted							-	
									
1bn.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 1b,								-0.015**
									(0.006)
2.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 2								-0.023***
									(0.009)
3.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 3								-0.036***
									(0.013)
4.MIMIC_p_2020_quartile	Quartile of Shadow Economic Activities = 4								-0.042***
									(0.015)
									
Observations		48,581	48,581	48,581	48,581	47,230	47,230	44,931	44,931
Standard errors in parentheses									
*** p<0.01, ** p<0.05, * p<0.1									
