
+--------------------------------+------------+------------+---------+---------+-----------+
|                                | (1)        | (2)        | (3)     | (4)     | (5)       |
+================================+============+============+=========+=========+===========+
| Peer TFP                       | 0.492      | 0.508      | 0.317   | 0.546   | 0.354     |
+--------------------------------+------------+------------+---------+---------+-----------+
|                                | [0.146]*** | [0.160]*   | [0.278] | [0.194] | [0.125]** |
+--------------------------------+------------+------------+---------+---------+-----------+
| Urbanization                   | 0.021      | 0.058      | 0.087   | 0.016   | 0.004     |
+--------------------------------+------------+------------+---------+---------+-----------+
|                                | [0.018]    | [0.003]*** | [0.099] | [0.013] | [0.024]   |
+--------------------------------+------------+------------+---------+---------+-----------+
| Localization                   | 0.028      | 0.062      | 0.064   | 0.007   | 0.045     |
+--------------------------------+------------+------------+---------+---------+-----------+
|                                | [0.170]    | [0.023]    | [0.174] | [0.009] | [0.034]   |
+--------------------------------+------------+------------+---------+---------+-----------+
| Quadratic term of Localization | -0.000     | -0.006     | -0.008  | -0.000  | -0.001    |
+--------------------------------+------------+------------+---------+---------+-----------+
|                                | [0.016]    | [0.002]*   | [0.015] | [0.001] | [0.003]   |
+--------------------------------+------------+------------+---------+---------+-----------+
| Num.Obs.                       | 685        | 2429       | 1821    | 6155    | 6401      |
+--------------------------------+------------+------------+---------+---------+-----------+
| R2                             | 0.164      | 0.113      | 0.063   | 0.087   | 0.146     |
+--------------------------------+------------+------------+---------+---------+-----------+
| R2 Adj.                        | 0.144      | 0.107      | 0.055   | 0.084   | 0.143     |
+================================+============+============+=========+=========+===========+
| (1) Agriculture, (2) Manufacturing, (3) Construction, (4) Trade, (5) Service             |
+================================+============+============+=========+=========+===========+
Table: Table 4: Fixed-Effects Estimation of Agglomeration Impacts on Firm Productivity by Sector
