
+--------------------------------+------------+------------+------------+------------+------------+------------+
|                                | (1)        | (2)        | (3)        | (4)        | (5)        | (6)        |
+================================+============+============+============+============+============+============+
| Average LP                     | 0.678      |            |            | 0.504      | 0.503      | 0.503      |
+--------------------------------+------------+------------+------------+------------+------------+------------+
|                                | [0.041]*** |            |            | [0.069]*** | [0.070]*** | [0.070]*** |
+--------------------------------+------------+------------+------------+------------+------------+------------+
| Urbanization                   |            | 0.154      |            | 0.024      | 0.050      | 0.027      |
+--------------------------------+------------+------------+------------+------------+------------+------------+
|                                |            | [0.014]*** |            | [0.013]*   | [0.085]    | [0.014]*   |
+--------------------------------+------------+------------+------------+------------+------------+------------+
| Quadratic term of Urbanization |            |            |            |            | -0.001     |            |
+--------------------------------+------------+------------+------------+------------+------------+------------+
|                                |            |            |            |            | [0.004]    |            |
+--------------------------------+------------+------------+------------+------------+------------+------------+
| Localization                   |            |            | 0.158      | 0.040      | 0.048      | 0.050      |
+--------------------------------+------------+------------+------------+------------+------------+------------+
|                                |            |            | [0.009]*** | [0.012]*** | [0.033]    | [0.034]    |
+--------------------------------+------------+------------+------------+------------+------------+------------+
| Quadratic term of Localization |            |            |            |            | -0.001     | -0.001     |
+--------------------------------+------------+------------+------------+------------+------------+------------+
|                                |            |            |            |            | [0.002]    | [0.002]    |
+--------------------------------+------------+------------+------------+------------+------------+------------+
| Num.Obs.                       | 17493      | 17525      | 17525      | 17493      | 17493      | 17493      |
+--------------------------------+------------+------------+------------+------------+------------+------------+
| R2                             | 0.162      | 0.151      | 0.153      | 0.165      | 0.165      | 0.165      |
+--------------------------------+------------+------------+------------+------------+------------+------------+
| R2 Adj.                        | 0.161      | 0.150      | 0.152      | 0.164      | 0.164      | 0.164      |
+================================+============+============+============+============+============+============+
| Notes: Each regression includes fixed effects for 17 sectors, firm age groups, ownership types, legal        |
| forms, R&D investment, and technology adoption (E-barimt). Standard errors, clustered at the sector level,   |
| are reported in brackets. *** Significant at the 1% level, ** Significant at the 5% level, * Significant at  |
| the 10% level.                                                                                               |
+================================+============+============+============+============+============+============+
Table: Table A3: Robustness check -  Dependent Variable as Labor Productivity
