Table 8 IV estimates, alternative IVs (Western Germany)

Second stage

DSL availability

− 0.143 (− 1.50)

− 0.053 (− 0.74)

0.194** (2.18)

0.225*** (2.87)

Establishment controls

Yes

Yes

Yes

Yes

Municipality controls

Yes

Yes

Yes

Yes

Year FE

Yes

Yes

Yes

Yes

Industry FE (3-digit)

Yes

Yes

Yes

Yes

District FE

Yes

Yes

Yes

Yes

Observations

14,029

14,823

17,706

18,650

Adjusted R²

0.060

0.064

0.052

0.047

First stage

Distance to MDF > 4.2 km (measured from population-weighted centroid)

− 0.063 (− 6.50)***

− 0.084 (− 5.52)***

Share of land area above 4.2 km distance threshold

− 0.110 (− 5.80)***

− 0.157 (− 5.94)***

Adj. R-sq.

0.463

0.461

0.410

0.427

Robust F stat.

42.424

33.837

30.665

35.465

Prob > F

0.000

0.000

0.000

0.000

Test of endogeneity p-value^a

0.117

0.444

0.074

0.010