Columns (1) and (5) present the benchmark models without the dummy variable and the external variable (real exchange rate change); columns (2) and (6) present the benchmark model with the dummy variable; columns (3) and (7) present the benchmark model with real exchange rate change, without the dummy variable; and columns (4) and (8) present the benchmark model with both real exchange rate and the dummy variable. Columns (1)-(4) report the results for IT, while the rest are results for
non-IT