Table 1

Table 1
Panel A
Summary statistics
Mean
Standard Error
Median
Mode
Standard Deviation
Sample Variance
Kurtosis
Skewness
Range
Minimum
Maximum
Sum
Count
Confidence
Level(95,0%)
16,24383562
1,55465266
8
1
29,70159737
882,1848863
37,59546654
5,283594258
284
1
285
5929
365
3,057224999
Panel B
Distribution of maximum hourly earning of industrial workers, Lisbon 1890
Number
Share of
total
« 50 reis
671
11%
50 - 99 reis
2324
39%
100 - 149 reis
2460
41%
» 150 reis
474
8%
Total
5929
Table 2
Shares of factors of production in value added
Name
Branch
workers
Human
capital %
raw lab %
capital%
Value added
per worker
(000 reis)
Panel A: Individual firms
José Pedro Ferreira
Fábrica de armas, Campo de St.
Clara
Fundição de Canhões, Campo de
St. Clara
Anjos & Sérgio
Jacob Ferreira da Silva
José Carlos Lopes Gomes
João Peres & Pierre de Dumont
L. Dauphinet & Castay
António Moreira Rato & Filhos
José Moreira Rato
Constantino Augusto Pereira
Fábrica de Alcantara
Fábrica de tijolos, João Lafite
José Gregório Boudouin
José Joaquim de Almeida Junça
Cordoaria nacional
H. Parry Son
Narciso Villalonga
Quintella e C.ª
Fábrica de sola de António
Cypriano Ferreira & Filhos
Nicolau Luís da Silva & Sobrinho
Silvestre & Irmão
Fábrica de escovas e broxas
Companhia nacional de estamparia
e tinturaria
Empresa industrial portuguesa
J. L. Garcia
Viúva Peters, Filhos & Cª.
Oficina de instrumentos de
precisão
Fábrica de lanifícios do Campo
Grande
Goarmon & Cª.
José Lopes Leal
D. Rocha & Cª.
Fábrica nacional de Butterine
António Manuel da Silva Valente
Saboaria a vapor de Agostinho
Ferreira da Silva
Empresa progresso industrial
Narciso da Costa
Portugal, fábrica a vapor de móveis
de ferro
Imprensa nacional: tipografia
Fábrica de vidros em Alcântara
Açúcar-refinação
Armaria
20
346
24,0
11,9
18,0
9,7
58,0
78,4
500
108
Armaria
180
0,6
1,7
99,2
112
Cal
Calçado
Calçado
Caldeiras
Caldeiras
Canteiro
Canteiro
Carpinteria
Cerâmica
Cerâmica
Cerâmica
Cerâmica
Construções navais
Construções navais
Cortiça
Cortiça
Cortumes
16
10
10
20
88
60
40
34
83
34
30
30
144
127
152
120
10
52,9
21,5
42,0
124,0
11,1
25,7
36,0
26,2
9,7
32,3
28,1
49,2
31,4
8,4
77,7
21,0
34,6
9,9
10,8
26,3
15,5
23,6
31,6
42,8
29,4
9,7
48,4
17,6
9,2
10,6
11,1
19,4
5,3
6,9
37,2
67,7
31,8
-39,5
65,3
42,8
21,3
44,4
80,7
19,3
54,3
41,5
58,0
80,5
2,9
73,8
58,5
227
390
200
85
332
317
250
270
192
262
427
195
109
263
138
100
347
Cortumes
Cortumes
Escovas e pincéis
Estamparia
20
12
15
115
32,4
42,4
26,5
16,0
4,9
6,4
33,6
51,5
62,7
51,3
39,9
32,5
370
283
454
556
Fundição de ferro
Fundição de ferro
Fundição de ferro
Instrumentos de
precisão
Lã- fiação e
tecelagem
Ladrilhos
Litografia
Luvas
Manteiga artificial
Marcenaria
Saboaria
463
68
52
33
10,7
1,9
16,1
33,1
14,0
2,9
21,2
22,8
75,3
95,2
62,7
44,1
246
287
329
132
160
1,1
-0,4
99,3
469
16
12
57
20
17
20
49,5
33,6
25,1
11,7
47,5
33,1
23,6
28,6
11,3
3,7
0,0
0,0
27,0
37,8
63,6
84,6
52,5
66,9
197
208
59
1025
104
362
Serralheria
Serralheria
Serralheria
19
14
100
6,3
28,7
27,5
2,5
18,0
27,5
91,2
53,3
45,0
705
269
261
Tipografia
Vidraria
259
55
0,1
17,6
0,3
11,0
99,7
71,4
713
211
3081
28,2
16,0
55.8
304
Panel B: all firms
Table 3
Capital-Skill Complementarity
Dependent Variable: HKCAP
Method: Least Squares
Included observations: 40 after adjusting endpoints
Variable
Coefficient
Std. Error
t-Statistic
Prob.
C
TOTK
VA
LAB
STEAM
51.00671
0.001875
-0.000123
-0.037601
-42.40389
15.49283
0.000836
0.000437
0.150383
18.75668
3.292279
2.243926
-0.281850
-0.250034
-2.260736
0.0023
0.0313
0.7797
0.8040
0.0301
R-squared
Adjusted R-squared
S.E. of regression
Sum squared resid
Log likelihood
Durbin-Watson stat
0.260247
0.175704
55.35775
107256.8
-214.6396
1.560332
Mean dependent var
S.D. dependent var
Akaike info criterion
Schwarz criterion
F-statistic
Prob(F-statistic)
42.27500
60.97288
10.98198
11.19309
3.078268
0.028422
Dependent Variable: HKCAP
Method: Least Squares
Included observations: 40 after adjusting endpoints
Variable
Coefficient
Std. Error
t-Statistic
Prob.
C
TOTK
LAB
HPCAP
OUTP
33.47655
0.002670
-0.141018
-0.590716
3.17E-05
15.40159
0.000864
0.096077
0.267025
0.000152
2.173578
3.090086
-1.467752
-2.212208
0.207925
0.0366
0.0039
0.1511
0.0336
0.8365
R-squared
Adjusted R-squared
S.E. of regression
Sum squared resid
Log likelihood
Durbin-Watson stat
0.261729
0.177355
55.30225
107041.9
-214.5995
1.859665
Mean dependent var
S.D. dependent var
Akaike info criterion
Schwarz criterion
F-statistic
Prob(F-statistic)
42.27500
60.97288
10.97997
11.19108
3.102018
0.027570
Variables:
HKCAP: human capital per worker
TOTK: value of capital per worker in each firm
LAB: number of workers in each firm
HPCAP: horsepower of motors per worker
OUTP: value of gross production of each firm
STEAM: dummy for the presence of steam engines (=1) or their absence (=0)
Table 4
Determinants of workers' skill premia
Dependent Variable: HK1
Method: Least Squares
Included observations: 296 after adjusting endpoints
Variable
Coefficient
Std. Error
t-Statistic
Prob.
C
MLIT
APPRHK
47.65452
0.559482
0.791693
69.50409
0.609234
0.125475
0.685636
0.918336
6.309570
0.4935
0.3592
0.0000
R-squared
Adjusted R-squared
S.E. of regression
Sum squared resid
Log likelihood
Durbin-Watson stat
0.140183
0.134314
387.6259
44024369
-2182.670
1.697640
Mean dependent var
S.D. dependent var
Akaike info criterion
Schwarz criterion
F-statistic
Prob(F-statistic)
495.3209
416.6128
14.76804
14.80544
23.88517
0.000000
Variables:
HK1- human capital per worker measured by maximum wage in category minus raw
labour wage
Mlit: literacy rate of occupational group expressed as ability to read only
Apprhk - minimum wage for age group over 16.
350
300
250
Serie1
200
Pon
il— mci a(Sere
i 1)
Lniea(S
l ee
ri1)
150
100
50
0
0
1000
2000
3000
4000
5000
350
HK/ worker
300
250
200
Serie1
Lniea(S
l ee
ri1)
150
100
2
R04
0
7
,=
8
50
0
0
1000
2000
3000
4000
5000
K
w
o
a
/tlo
krer
60
50
% HK
40
Serie1
Pon
il— mci a(Sere
i 1)
Lniea(S
l ee
ri1)
30
20
10
2
R04
0
2
,=
3
0
-10 0
1000
2000
KC
/AP
3000
4000
5000