Table 5.

. | Agriculture . | Mining . | Manufacturing . | LIM . | Services . |
---|---|---|---|---|---|

ln YPC | −51.343^{***} | −10.631 | 64.43^{***} | 17.49^{++} | 15.661 |

(−2.42) | (−0.71) | (2.82) | (1.28) | (0.60) | |

ln YPC squared | 3.241^{***} | 0.560 | −3.443^{***} | −1.232^{++} | −0.872 |

(2.71) | (0.64) | (−2.76) | (−1.63) | (−0.63) | |

Agricultural endowment | 2.779 | ||||

(1.44) | |||||

Mineral endowment | 0.258 | ||||

(0.76) | |||||

Capital endowment | −0.980 | −1.523 | 4.042 | ||

(0.25) | (−0.82) | (1.21) | |||

R-squared (adjusted) | 0.21 | 0.16 | 0.06 | 0.11 | 0.03 |

Observations | 2,063 | 1,837 | 2,061 | 2,049 | 2,369 |

No. of countries | 109 | 100 | 109 | 108 | 112 |

Country fixed effects | Yes | Yes | Yes | Yes | Yes |

Year fixed effects | Yes | Yes | Yes | Yes | Yes |

. | Agriculture . | Mining . | Manufacturing . | LIM . | Services . |
---|---|---|---|---|---|

ln YPC | −51.343^{***} | −10.631 | 64.43^{***} | 17.49^{++} | 15.661 |

(−2.42) | (−0.71) | (2.82) | (1.28) | (0.60) | |

ln YPC squared | 3.241^{***} | 0.560 | −3.443^{***} | −1.232^{++} | −0.872 |

(2.71) | (0.64) | (−2.76) | (−1.63) | (−0.63) | |

Agricultural endowment | 2.779 | ||||

(1.44) | |||||

Mineral endowment | 0.258 | ||||

(0.76) | |||||

Capital endowment | −0.980 | −1.523 | 4.042 | ||

(0.25) | (−0.82) | (1.21) | |||

R-squared (adjusted) | 0.21 | 0.16 | 0.06 | 0.11 | 0.03 |

Observations | 2,063 | 1,837 | 2,061 | 2,049 | 2,369 |

No. of countries | 109 | 100 | 109 | 108 | 112 |

Country fixed effects | Yes | Yes | Yes | Yes | Yes |

Year fixed effects | Yes | Yes | Yes | Yes | Yes |

LIM = labor-intensive manufacturing, ln = natural logarithm, YPC = income per capita.

Notes: *t* statistics in parentheses. ^{***}p < 0.01. For labor-intensive manufacturing, *F* statistics in parentheses. ^{++}p(*F*) < 0.05. Labor-intensive manufacturing includes textiles, clothing, and footwear.

Source: Authors’ computations.

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