**Table 3. The effect of electricity access on manufacturing firms’ exports and domestic sales (% total sales), by size (intensive margin).**

|||Exports||||Domestic Sale|s||
|---|---|---|---|---|---|---|---|---|
||Overall Sample|Small Firms|Medium Firms|Large Firms|Overall Sample|Small Firms|Medium Firms|Large Firms|
||(1)|(2)|(3)|(4)|(5)|(6)|(7)|(8)|
|**Treatment**|3.64|3.98|6.32|-2.59|-3.64|-3.98|-6.32|2.59|
||(2.69)|(3.74)|(1.88)***|(3.80)|(2.69)|(3.74)|(1.88)***|(3.80)|
|Firms’ age|0.01|-0.01|0.05|-0.07|-0.01|0.01|-0.05|0.07|
||(0.05)|(0.08)|(0.08)|(0.16)|(0.05)|(0.08)|(0.08)|(0.16)|
|Firms’ status|3.24|4.49|1.80|-0.21|-3.24|-4.49|-1.80|0.21|
||(1.36)**|(1.74)**|(1.17)|(1.96)|(1.36)**|(1.74)**|(1.17)|(1.96)|
|Gender|<br>-2.90|<br>-3.92|<br>2.17|<br>-9.11|<br>2.90|<br>3.92|<br>-2.17|<br>9.11|
||(1.91)|(2.59)|(6.50)|(7.05)|(1.91)|(2.59)|(6.50)|(7.05)|
|Log(Labor(t-3)+ 1)|1.65|1.39|1.23|-1.36|-1.65|-1.39|-1.23|1.36|
||(1.33)|(1.28)|(2.31)|(0.87)|(1.33)|(1.28)|(2.31)|(0.87)|
|Log(Output(t-3)+ 1)|-1.07|-1.09|-2.08|0.98|1.07|1.09|2.08|-0.98|
||(0.47)**|(0.30)***|(0.68)***|(0.53)*|(0.47)**|(0.30)***|(0.68)***|(0.53)*|
|Transport|<br>0.49|<br>0.41|<br>0.43|<br>1.56|<br>-0.49|<br>-0.41|<br>-0.43|<br>-1.56|
||(0.71)|(0.76)|(1.51)|(1.61)|(0.71)|(0.76)|(1.51)|(1.61)|
|Exchange rate<br>|-0.08|0.14|-0.15|-0.88|0.19|-0.03|0.26|0.99|
|growth(t-1)|||||||||
||(0.02)***|(0.03)***|(0.03)***|(0.05)***|(0.02)***|(0.03)|(0.03)***|(0.05)***|
|Trade openness(t-1)|<br>0.15|<br>0.13|<br>0.86|<br>0.24|<br>0.13|<br>0.15|<br>-0.58|<br>0.04|
||(0.09)*|(0.08)|(0.23)***|(0.34)|(0.09)|(0.08)*|(0.23)**|(0.34)|
|Size|2.30<br>||||-2.30<br>||||
||(1.13)*||||(1.13)*||||
|Generator use|<br>-0.07|-3.02|3.35|-7.85|<br>0.07|3.02|-3.35|7.85|
||(1.25)|(1.16)**|(2.70)|(6.91)|(1.25)|(1.16)**|(2.70)|(6.91)|
|Electricity losses(t-1)|-0.73|-0.78|-0.68|-2.49|0.99|1.04|0.93|2.75|
||(0.05)***|(0.07)***|(0.17)***|(0.28)***|(0.05)***|(0.07)***|(0.17)***|(0.28)***|
|GDP per capita(t-1)|-0.00|-0.00|-0.01|0.02|0.03|0.02|0.03|0.01|
||(0.00)|(0.00)|(0.00)***|(0.00)***|(0.00)***|(0.00)***|(0.00)***|(0.00)|
|GDP growth(t-1)|-0.10|-0.08|-0.28|-0.65|1.03|1.02|1.21|1.59|
||(0.10)|(0.09)|(0.18)|(0.34)*|(0.10)***|(0.09)***|(0.18)***|(0.34)***|
|Rule of law growth(t-1)|-0.20|-0.04|-0.41|-0.44|0.52|0.36|0.73|0.75|
||(0.04)***|(0.01)***|(0.05)***|(0.05)***|(0.04)***|(0.01)***|(0.05)***|(0.05)***|
|R2|0.30|0.31|0.30|0.54|0.91|0.92|0.93|0.87|
|_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:|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|Country,Year|||||||||

Weighted ordinary least squares regression is the estimation approach, with standard errors clustered at country-level in parentheses. The treatment variable is a dummy variable taking 1 if the company declares not suffering from power outages and 0 otherwise. Dependent variables are the companies' share of exports and domestic sales in total sales. We include control variables (firms' age, firms' status, manager gender, labor and sales three years ago, the quality of transport service, the real exchange rate, trade openness index) and covariates (firms' use of generators, firms' size, electricity losses during transmission and transport, GDP per capita, GDP growth, rule of law growth). Country-level covariates are lagged by one year to avoid reverse causality between them and the occurrence of electricity access in the first stage of the entropy balancing method. Country and year fixed effects are introduced in all full estimates. Small companies are those employing fewer than 20 workers, medium-sized companies employ between 20 and 99 workers, while the number of workers in large companies is greater than 99. * _p_ <0.1; ** _p_ <0.05; *** _p_ <0.01.

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