Table 4: Fixed effects model estimates of education on industrial productivity using translog production function.

TL model 1TL model 2TL model 3

Real capital0.2230 (0.2515)0.1436 (0.2304)0.2242 (0.2371)
Employment0.6418*** (0.1207)0.8600*** (0.1121)0.7982*** (0.1249)
Capital squared0.1355*** (0.0365)0.0999** (0.0341)0.0696* (0.0355)
Labor squared0.5543*** (0.0466)0.4647*** (0.0422)0.4285*** (0.0444)
Emp * capital−0.2399*** (0.0262)−0.2033*** (0.0242)−0.1782*** (0.0259)
Year0.0124*** (0.0007)0.0129*** (0.0026)0.0155*** (0.0031)
Years of schooling−87.0753*** (20.7014)−102.6303** (31.3719)
Relative schooling24.5696*** (6.7510)21.4015* (9.9690)
Schooling squared32.6942*** (7.5034)37.8036*** (9.7734)
Rel. sch. squared2.0907* (0.8484)1.3188 (1.0452)
Schooling * rel. sch.−9.3522*** (2.4396)−7.9795* (3.0930)
Experience3.1850 (7.7602)
Female (%)−2.4514* (1.0426)
Black (%)−1.3270*** (0.2446)
Hispanic (%)0.1179 (0.1270)
Other race (%)−0.0178 (0.0881)
Metro (%)1.0503 (1.9101)
Experience squared−2.4411** (0.9318)
Female squared (%)0.0039 (0.0085)
Black squared (%)0.0021 (0.0011)
Hispanic squared (%)−0.0010 (0.0009)
Other race squared (%)0.0002 (0.0008)
Metro squared (%)0.1666* (0.0806)
Experience * schooling1.7921 (2.2292)
Female * schooling (%)0.8065** (0.2969)
Black * schooling (%)0.4274*** (0.0778)
Hispanic * schooling (%)−0.0248 (0.0399)
Other race * schooling (%)−0.0064 (0.0269)
Metro * schooling (%)−0.4207 (0.5372)
Experience * rel. sch.−0.4121 (0.7493)
Female * rel. sch. (%)−0.2076 (0.1066)
Black * rel. sch. (%)−0.1014*** (0.0239)
Hispanic * rel. sch. (%)0.0226 (0.0125)
Other race * rel. sch. (%)−0.0128 (0.0094)
Metro * rel. sch. (%)0.2298 (0.2035)
Female * experience (%)0.0949 (0.1196)
Black * experience (%)0.0547*** (0.0139)
Hispanic * experience (%)−0.0125 (0.0111)
Other race * experience (%)0.0103 (0.0078)
Metro * experience (%)0.1212 (0.2425)
Black *  % female (%)−0.0066* (0.0033)
Hispanic *  % female (%)0.0075** (0.0025)
Other race *  % female (%)0.0017 (0.0014)
Metro *  % female (%)−0.0165 (0.0341)
Hisp *  % Black (%)−0.0000 (0.0002)
Other *  % Black (%)−0.0006** (0.0002)
Metro *  % Black (%)−0.0034 (0.0070)
Other *  % Hisp. (%)0.0002 (0.0002)
Metro *  % Hisp. (%)−0.0075* (0.0035)
Metro *  % other (%)0.0110*** (0.0031)
Constant 2.8603** (0.9488)119.1650*** (28.4682)129.6294* (51.3672)
R squared.5433796.6372571.6652987
Sigma u .3304505.3541423.3691016
Sigma e .1105096.0984968.0946131
Bic−2014.7−2274.794−2140.266
N 126212621262

* P < 0.05, **P < 0.01, ***P < 0.001.