59 Table 16: Estimation results for Spain, all sectors Notes: The dependent variable is the within sector wage share. All estimations exclude Agriculture, Hunting, Forestry and Fishing; and Mining and Quarrying sectors as well as public sectors (Public Administration and Defence; Compulsory Social Security; Education; Human Health and Social Work Activities). Estimation methods in column titles. P-values below the estimation coefficients in parenthesis. *, **, *** denote statistical significant at the 1%, 5% and 10% level, respectively. Within Estimator First Difference Estimator ESP_1 ESP _2 ESP _3 ESP _4 ESP _5 ESP _6 ESP _7 ESP _8 ESP _1 ESP _2 ESP _3 ESP _4 ESP _5 ESP _6 ESP _7 ESP _8 growth -0.147*** -0.135* -0.165*** -0.094** -0.237*** -0.046 -0.243*** -0.099*** -0.178*** -0.197*** -0.178*** -0.110 -0.182 -0.107 -0.188 -0.127 (0.006) (0.097) (0.006) (0.023) (0.000) (0.166) (0.000) (0.004) (0.000) (0.001) (0.000) (0.316) (0.192) (0.356) (0.193) (0.264) capital stock_t-1 0.086*** 0.091** 0.088*** 0.179*** 0.161** 0.179*** (0.002) (0.036) (0.002) (0.001) (0.018) (0.001) int. imports_t-1 0.467* 0.477 0.577** 0.105 -0.301 0.107 (0.095) (0.124) (0.041) (0.725) (0.360) (0.722) other imports_t-1 -0.050 -0.151*** 0.014 -0.000 -0.128 -0.000 (0.596) (0.001) (0.895) (0.998) (0.134) (0.995) social government_t-1 -0.030** -0.042*** -0.013 -0.024 (0.027) (0.000) (0.357) (0.107) sec. union density_t-1 0.008** 0.003*** -0.000 0.000 (0.021) (0.000) (0.958) (0.907) ICT capital_t-1 -0.081*** -0.043* -0.088*** 0.004 -0.091*** 0.019 0.047 0.018 0.075 0.000 (0.000) (0.077) (0.000) (0.852) (0.000) (0.774) (0.492) (0.785) (0.377) (0.997) non-ICT capital_t-1 0.368*** 0.398*** 0.355*** 0.367*** 0.378*** -0.024 0.011 -0.022 0.018 0.002 (0.000) (0.000) (0.000) (0.000) (0.000) (0.805) (0.925) (0.821) (0.873) (0.988) outward FDI_t-1 -0.133* -0.174** -0.174** -0.112 -0.145** -0.218* -0.228** -0.219* -0.180 -0.233* (0.084) (0.039) (0.019) (0.168) (0.046) (0.078) (0.042) (0.077) (0.188) (0.061) hh debt_t-1 0.156 0.161 (0.220) (0.394) fin. income_t-1 0.007 0.026 (0.846) (0.663) fin. payments_t-1 -0.532** -0.417 (0.011) (0.233) migration_t-1 0.480 0.845 (0.345) (0.247) constant 0.508*** 0.809*** 0.303*** 2.146*** 2.947*** 1.979*** 1.424** 2.104*** (0.000) (0.000) (0.006) (0.000) (0.000) (0.000) (0.026) (0.000) withR2 0.222 0.324 0.304 0.656 0.694 0.666 0.709 0.657 0.149 0.145 0.143 0.089 0.114 0.060 0.065 0.079 F-test 17.374 32.767 28.689 236.139 17.204 290.222 67.474 335.133 4.145 4.419 3.297 1.204 1.375 0.943 0.953 1.122 Obs 152 115 152 53 53 53 53 53 142 105 142 36 36 36 36 36 number of sectors 9 9 9 15 15 15 15 15 9 9 9 13 13 13 13 13