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|Dependent variable: Laborpr|**Table 3. Impac**<br>oductivity growt|**t of the structura**<br>h|**l reforms on labor**|**productivity gro**|**wth**||
|---|---|---|---|---|---|---|
||Package|of reforms|Financial<br>reforms|Fiscal reforms|Real sector<br>reforms|Trade sector<br>reforms|
||(1)|(2)|(3)|(4)|(5)|(6)|
|**Structural Reforms**|||||||
|Structural Reforms|0.284***<br>(0.0160)|0.0380<br>(0.0763)|0.370***<br>(0.0209)|0.344***<br>(0.0194)|9.674***<br>(0.546)|0.266***<br>(0.0150)|
|Strong reformer dummy||-0.0693<br>(0.0632)|||||
|Strong reformer<br>dummy*Structural Reforms||0.257***<br>(0.0455)|||||
|**Firms’ size**|||||||
|Micro-firms|-0.429***<br>(0.0519)|-0.429***<br>(0.0519)|-0.429***<br>(0.0519)|-0.429***<br>(0.0519)|-0.429***<br>(0.0519)|-0.429***<br>(0.0519)|
|Small firms|-0.294***<br>(0.0382)|<br>-0.294***<br>(0.0382)|<br>-0.294***<br>(0.0382)|<br>-0.294***<br>(0.0382)|<br>-0.294***<br>(0.0382)|<br>-0.294***<br>(0.0382)|
|Medium firms|-0.102***<br>(0.0218)|-0.102***<br>(0.0218)|-0.102***<br>(0.0218)|-0.102***<br>(0.0218)|-0.102***<br>(0.0218)|-0.102***<br>(0.0218)|
|**Firms’ age **|||||||
|Y|-0.0174|-0.0174|-0.0174|-0.0174|-0.0174|-0.0174|
|oung|(0.0114)|(0.0114)|(0.0114)|(0.0114)|(0.0114)|(0.0114)|
|Mature|<br>-0.0419***<br>(0.0097)|<br>-0.0419***<br>(0.0097)|<br>-0.0419***<br>(0.0097)|<br>-0.0419***<br>(0.0097)|<br>-0.0419***<br>(0.0097)|<br>-0.0419***<br>(0.0097)|
|**Ownership**|||||||
|Government share|0.0087<br>(0.0104)|0.0087<br>(0.0104)|0.0087 (0.0104)|0.0087<br>(0.0104)|0.0087<br>(0.0104)|0.0087<br>(0.0104)|
|Foreign share|<br>0.0715***<br>(0.0180)|<br>0.0715***<br>(0.0180)|0.0715***<br>(0.0180)|<br>0.0715***<br>(0.0180)|<br>0.0715***<br>(0.0180)|<br>0.0715***<br>(0.0180)|
|**Others firms’**|||||||
|**characteristics**|||||||
|Exporting status - dummy|0.0491***<br>(0.0164)|0.0491***<br>(0.0164)|0.0491***<br>(0.0164)|0.0491***<br>(0.0164)|0.0491***<br>(0.0164)|0.0491***<br>(0.0164)|
|Financial access|<br>0.0162<br>(0.0140)|<br>0.0162<br>(0.0140)|<br>0.0162 (0.0140)|<br>0.0162<br>(0.0140)|<br>0.0162<br>(0.0140)|<br>0.0162<br>(0.0140)|
|Log. real sales (3 years<br>ago)|<br>-0.616***<br>(0.0528)|<br>-0.616***<br>(0.0528)|-0.616***<br>(0.0528)|<br>-0.616***<br>(0.0528)|<br>-0.616***<br>(0.0528)|<br>-0.616***<br>(0.0528)|
||0.0165|0.0165|0.0165|0.0165|0.0165|0.0165|
|Large city|(0.0261)|(0.0261)|(0.0261)|(0.0261)|(0.0261)|(0.0261)|
|**Macroeconomic variables**|||||||
||0.526***|-0.0395***|1.359***|0.294***|-0.521***|0.625***|
|GDP growth (percent)|(0.0301)|(0.009)|(0.0299)|(0.0412)|(0.0848)|(0.0259)|
|Inflation (percent)|-10.74***<br>(0.414)|-0.0107<br>(0.009)|-23.88***<br>(0.526)|-7.741***<br>(0.549)|-11.73***<br>(1.284)|-8.398***<br>(0.327)|
|**Institutions**|||||||
|Quality of regulation|2.772***<br>(0.0922)|0.0166<br>(0.0294)|6.058***<br>(0.169)|2.150***<br>(0.111)|4.394***<br>(0.099)|1.782***<br>(0.126)|
|<br>**R-squared**|<br>**0.236**|<br>**0.236**|<br>**0.240**|<br>**0.240**|<br>**0.240**|<br>**0.240**|
|Observations|10,822|10822|10822|10822|10822|10822|
|Country FE|YES|YES|YES|YES|YES|YES|
|Sector FE<br>|YES<br>|YES<br>|YES<br>|YES<br>|YES<br>|YES<br>|
|Year FE|YES|YES|YES|YES|YES|YES|
|Notes. The table presents sta<br>mixed effects model. All esti<br>errors clustered at the country|ndardized coeffic<br>mates use the we<br>level inparenth|ients of the effect<br>ights and are stan<br>eses. ***,**,* d|s of reforms on firm<br>dardized so that can<br>enote significance at|s’ labor productiv<br>be compared acr<br>the 1,5,and 10|ity growth using<br>oss reforms. Rob<br>percent level.|a multilevel<br>ust standard|