Table 5. Results of quantile regression.

Variable	(1)	(2)	(3)	(4)	(5)
	10%	30%	50%	70%	90%
Digit	1.859**	1.570***	1.334***	1.122**	0.899
	(0.743)	(0.555)	(0.465)	(0.466)	(0.549)
fdi	0.032***	0.032***	0.032***	0.032***	0.032***
	(0.012)	(0.009)	(0.007)	(0.007)	(0.009)
is	-0.019***	-0.010***	-0.003	0.003	0.00***
	(0.004)	(0.003)	(0.003)	(0.003)	(0.003)
grp	2.801***	2.620***	2.473***	2.341***	2.202***
	(0.190)	(0.142)	(0.119)	(0.119)	(0.140)
lnhr	1.204***	1.131***	1.071***	1.017***	0.961***
	(0.261)	(0.195)	(0.163)	(0.163)	(0.193)
lnrd	0.855***	0.809***	0.772***	0.739***	0.704***
	(0.153)	(0.114)	(0.096)	(0.096)	(0.113)
Observations	4275	4275	4275	4275	4275

Notes: The standard error in parenthesis.

***, **, and * indicate statistically significant at 1%, 5%, and 10%, respectively.