||(1)|(2)|(3)|(4)|(5)|(6)|(7)|(8)|
|---|---|---|---|---|---|---|---|---|
|**Power Access by Firms**|4.84|5.22|6.71|-1.06|||||
||(2.03)**|(2.80)*|(1.91)***|(2.33)|||||
|Firms’ age|-0.01|0.07|-0.01|-0.09|-0.01|0.07|-0.01|-0.09|
||(0.05)|(0.06)|(0.06)|(0.05)*|(0.05)|(0.07)|(0.06)|(0.05)*|
|Firms’ Status|2.71|3.76|2.20|-0.38|2.78|3.81|2.25|-0.42|
||(0.95)***|(1.60)**|(0.83)**|(0.72)|(1.00)**|(1.68)**|(0.83)**|(0.71)|
|Gender|-0.83|-0.93|1.53|-1.90|-0.97|-1.13|1.48|-1.90|
||(1.86)|(1.82)|(3.22)|(4.48)|(1.94)|(1.91)|(3.25)|(4.47)|
|Log(Labor(t-3)+ 1)|3.36|0.89|0.76|3.97|3.35|0.77|0.39|3.94|
||(0.81)***|(0.75)|(1.35)|(1.59)**|(0.81)***|(0.74)|(1.42)|(1.58)**|
|Log(Output()t-3)+1)|-0.62|-0.79|-0.76|-0.47|-0.63|-0.78|-0.79|-0.47|
||(0.51)|(0.43)*|(0.88)|(0.55)|(0.50)|(0.41)*|(0.89)|(0.55)|
|Transport|0.62|0.83|0.57|0.26|0.61|0.87|0.49|0.27|
||(0.38)|(0.35)**|(0.50)|(1.14)|(0.37)|(0.37)**|(0.50)|(1.13)|
|Exchange rate growth(t-1)|-0.17|0.16|-0.12|-0.48|-0.18|0.18|-0.08|-0.49|
||(0.02)***|(0.01)***|(0.03)***|(0.04)***|(0.02)***|(0.01)***|(0.03)***|(0.05)***|
|Trade openness(t-1)|-0.15|0.32|0.65|-1.22|0.07|0.17|0.11|-1.13|
||(0.08)*|(0.06)***|(0.09)***|(0.13)***|(0.03)**|(0.04)***|(0.07)|(0.11)***|
|Generator use|1.86|-0.65|4.13|1.68|1.25|-1.44|3.56|1.81|
||(0.74)**|(0.81)|(1.66)**|(3.67)|(0.92)|(1.20)|(1.65)**|(3.65)|
|Electricity losses(t-1)|-0.85|-0.95|-0.14|-1.38|-0.65|-1.12|-0.62|-1.29|
||(0.03)***|(0.08)***|(0.04)***|(0.07)***|(0.05)***|(0.09)***|(0.13)***|(0.15)***|
|GDP per capita(t-1)|0.00|-0.00|-0.01|0.02|0.00|-0.00|-0.01|0.02|
||(0.00)|(0.00)**|(0.00)**|(0.00)***|(0.00)|(0.00)**|(0.00)*|(0.00)***|
|GDP growth(t-1)|<br>0.18|<br>-0.12|<br>-0.84|<br>1.42|<br>0.26|<br>-0.37|<br>-1.44|<br>1.51|
||(0.17)|(0.09)|(0.11)***|(0.23)***|(0.20)|(0.07)***|(0.21)***|(0.32)***|
|Rule of law growth(t-1)|-0.15|-0.10|-0.25|-0.06|-0.21|-0.04|-0.04|-0.09|
||(0.04)***|(0.01)***|(0.04)***|(0.05)|(0.02)***|(0.01)***|(0.02)**|(0.06)|
|**Power Access by**|||||-0.28|0.27|0.89|-0.14|
|<br>**Population(t-1)**|||||||||
||||||(0.10)**|(0.05)***|(0.18)***|(0.29)|
|R2|0.31|0.27|0.27|0.52|0.31|0.26|0.27|0.52|
|_N_|3,206|1,651|995|560|3,206|1,651|995|560|
|# Countries|<br>39|<br>39|39|39|<br>39|<br>39|39|39|
|- Fixed Effects: Country,|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|Year|||||||||
|Ordinary lea<br>variable in th<br>is a country-l<br>include contr<br>generators, fi<br>between the<br>20 and 99 w|st squares regression is the es<br>e entropy balancing approach w<br>evel variable that designates t<br>ol variables (firms' age, firms'<br>rms' size, electricity losses duri<br>m and the dependent variables.<br>orkers; large companies: worke|timation approach, with sta<br>hich is a dummy variable t<br>he percentage of populatio<br>status, manager gender, la<br>ng transmission and transp<br>Country and year fixed eff<br>rs greater than 99 *_p_<0.1;|ndard errors clustere<br>aking 1 if the company<br>n with access to electr<br>bor and sales three y<br>ort, GDP per capita, G<br>ects are introduced in<br>**_p_<0.05; *** p<0.01.|d at country-level in par<br>declares not suffering f<br>icity (% total population<br>ears ago, the quality o<br>DP growth, rule of law g<br>all the estimates. Small<br>|entheses. The variable**Powe**<br>rom power outages and 0 othe<br>). The dependent variable is t<br>f transport service, the real e<br>rowth). Country-level variable<br>companies: workers fewer tha|**r** **Access by Firms**correspo<br>rwise. The variable**Power Ac**<br>he companies' share of expo<br>xchange rate, trade opennes<br>s are lagged by one year to av<br>n 20; medium-sized compan|nds to the treatment<br>**cess by Population**<br>rts in total sales. We<br>s index, firms' use of<br>oid reverse causality<br>ies: workers between||

**Table 10. Robustness: Power outages (country-level).**

|Dependent variable:**Exports % total sales**|||||
|---|---|---|---|---|
||Overall Sample|Small Firms|Medium Firms|Large Firms|
|||||24|