(1)

(2)

(3)

(4)

Asy

OFDI

Asy1

OFDI

Digec

0.401^***

0.213^***

0.469^***

0.211^***

(0.056)

(0.033)

(0.070)

(0.033)

Asy

0.019^***

(0.005)

Asy1

0.018^***

(0.004)

Constant

−6.492^***

−2.330^***

−8.654^***

−2.286^***

(0.130)

(0.082)

(0.164)

(0.083)

Controls

yes

yes

yes

yes

Year-FE

yes

yes

yes

yes

Ind-FE

yes

yes

yes

yes

Obs.

17,051

17,051

17,101

17,101

R2

0.345

0.160

0.352

0.160