(1)	(2)	(3)	(4)	(5)
VARIABLES	Value-added	Value-added with competition	Value-added with competition, interactions	Value-added with institution	Value-added with institution interactions
Number of political contacts, ln	0.288**	0.281**	0.243**	0.291**	0.244**
	(0.113)	(0.112)	(0.113)	(0.114)	(0.105)
Number of political contacts (ln) * Moderate competition from other non-state informal enterprises (Yes=1)			-0.386** (0.162)
Capital, ln	0.0549**	0.0578**	0.0653***	0.0552**	0.0632***
	(0.0249)	(0.0246)	(0.0238)	(0.0248)	(0.0241)
Labor, ln	0.399***	0.398***	0.422***	0.397***	0.398***
	(0.0363)	(0.0362)	(0.0353)	(0.0372)	(0.0356)
Age of firm (years of operation), ln	0.133 (0.227)	0.134 (0.225)	0.0779 (0.213)	0.106 (0.225)	0.192 (0.232)
Age of firm (years of operation), ln, squared	-0.120 (0.0798)	-0.118 (0.0788)	-0.105 (0.0751)	-0.112 (0.0788)	-0.124 (0.0799)
Year 2013 (Yes=1)	0.106**	0.100**	0.141***	0.110**	0.110***
	(0.0444)	(0.0443)	(0.0427)	(0.0474)	(0.0424)
Year 2015 (Yes=1)	0.322***	0.313***	0.329***	0.303***	0.297***
	(0.0719)	(0.0715)	(0.0698)	(0.0729)	(0.0714)
Moderate competition from other non-state informal enterprises (Yes=1)		-0.0727** (0.0369)	0.287** (0.142)	-0.0707* (0.0369)	-0.0793** (0.0372)
Relatively low PCI: PCI from 54 to less than 56				-0.338** (0.149)	0.232 (0.210)
Medium PCI (medium-institution group): PCI from 56 to less than 57				-0.200 (0.123)
Rather-good PCI (good-institution group): PCI from 57 to less than 60				-0.0543 (0.127)
Good PCI: PCI from 60 to less than 62				-0.143 (0.151)
Number of political contacts (ln) * Relatively low PCI (PCI from 54 to less than 56)					-0.373* (0.224)
Observations	1,500	1,500	1,500	1,500	1,500
R-squared	0.090	0.102	0.173	0.099	0.151
Number of firms	500	500	500	500	500
Hansen J statistic	12.09	12.17	26.24	11.43	27.11
p-value of Hansen statistic	0.795	0.790	0.710	0.833	0.617
F statistic	29.56	26.56	24.83	18.01	21.84
LM test statistic for under-identification (Anderson or Kleibergen-Paap)	27.52	27.74	43.71	28.01	34.30
p-value of under-identification LM statistic	0.0697	0.0662	0.0812	0.0619	0.312
F statistic for weak identification (Cragg-Donald or Kleibergen-Paap)	2.008	2.023	1.657	1.870	1.464
LM statistic for instrument redundancy	18.22	18.48	66.93	19.46	55.34
p-value of LM statistic for instrument redundancy	0.251	0.238	0.312	0.245	0.646
centered R-squared	0.0896	0.102	0.173	0.0992	0.151