ftcertified0.0260.026-0.186-0.249

(1.05)(1.05)(1.41)(1.62)yr1-0.6380.2350.2070.144

(12.13)**(2.96)*(2.62)*(3.05)**yr2-0.6470.039-0.000-0.064

(13.00)**(0.56)(0.01)(1.40)yr3-0.8650.062-0.003-0.067

(11.24)**(0.68)(0.04)(1.19)yr4-0.8260.0870.064

(16.88)**(1.10)(0.74)

yr5-0.4230.0200.027-0.110

(10.49)**(0.51)(0.58)(3.44)**yr6-0.6050.0240.014-0.123

(11.92)**(0.27)(0.15)(2.66)*yr7-0.9700.1140.119-0.018

(15.82)**(0.92)(0.85)(0.21)yr8-1.0820.1660.1800.043

(22.91)**(1.22)(1.21)(0.43)yr9-0.9610.1100.136-0.001

(27.79)**(1.06)(1.26)(0.01)yr10-0.8020.1430.1550.018

(22.87)**(1.43)(1.41)(0.30)yr11-0.4310.1140.137

(14.31)**(2.00)(2.41)*

yr12-0.3640.0600.0740.074

(10.39)**(1.62)(2.01)(2.01)yr13-0.2330.0290.0330.033

(5.35)**(1.13)(1.31)(1.31)yr14-0.077-0.041-0.036-0.036

(1.70)(0.98)(0.78)(0.78)yr15-0.179

(8.45)**

lnworlduv

1.2541.2611.261

(8.45)**(7.67)**(7.67)**exportshare

-0.378-0.378

(2.03)(2.03)ftcertexportonly

0.2130.213

(1.35)(1.35)LWPDummy

0.073

(1.33)ftcertLwp

0.064

(0.74)_cons7.947-2.052-1.778-1.715

(205.87)**(1.76)(1.36)(1.39)R20.940.940.950.95N219219195195* p