Table 8.

Drop countries one-by-one

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)
VARIABLES	EIB Loan Dummy
Work region	0.1641***	0.1708***	0.1518***	0.1712***	0.1909***	0.1543***	0.1709***	0.1712***	0.1845***	0.1746***	0.1679***	0.1672***	0.1712***	0.1669***
dummy	(0.0545)	(0.0521)	(0.0524)	(0.0520)	(0.0517)	(0.0563)	(0.0520)	(0.0521)	(0.0490)	(0.0528)	(0.0537)	(0.0520)	(0.0521)	(0.0546)
Without country	AT	BE	BG	CY	CZ	DE	DK	EE	EL	ES	FI	FR	HR	HU
Observations	6,417	6,392	6,492	6,617	6,442	5,700	6,517	6,642	6,317	6,167	6,517	5,992	6,642	6,467
R-squared	0.2501	0.2505	0.2525	0.2509	0.2445	0.2815	0.2483	0.2540	0.2615	0.2577	0.2467	0.2769	0.2540	0.2505
Number of regions	257	256	260	265	258	228	261	266	253	247	261	240	266	259
Mean of dependent variable	.42	.42	.43	.42	.42	.43	.42	.42	.42	.39	.42	.41	.42	.43
Work region	0.1712***	0.1806***	0.1712***	0.1712***	0.1712***	0.1712***	0.1710***	0.1596***	0.1713***	0.1658***	0.1606***	0.1898***	0.1926***	0.1629***
dummy	(0.0521)	(0.0532)	(0.0521)	(0.0520)	(0.0521)	(0.0520)	(0.0570)	(0.0545)	(0.0543)	(0.0551)	(0.0541)	(0.0519)	(0.0524)	(0.0558)
Without country	IE	IT	LT	LU	LV	MT	NL	PL	PT	RO	SE	SI	SK	UK
Observations	6,592	6,117	6,642	6,617	6,642	6,617	6,342	6,242	6,467	6,442	6,442	6,592	6,542	5,717
R-squared	0.2501	0.2603	0.2540	0.2527	0.2540	0.2517	0.2592	0.2381	0.2542	0.2503	0.2478	0.2518	0.2526	0.2640
Number of region	264	245	266	265	266	265	254	250	259	258	258	264	262	229
Mean of dependent variable	.42	.39	.42	.42	.42	.42	.43	.43	.41	.43	.42	.42	.42	.42

*** p < 0.01, ** p < 0.05, * p < 0.1. The table presents results for the estimation of the model in Eq. 1. Standard errors are in parentheses and clustered on the level of NUTS 2 regions. The sample start year is 1990 for all regressions. Control variables, region fixed effects, and country-year fixed effects are included in all regressions