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I have a panel dataset of survey responses collected by the world bank in Egypt in 2004, 2006, and 2008. I want to run an ordered probit model to test the impact of firm characteristics on their credit constrained status (which is an ordinal variable). What will be the general specification in this case? I want to know if I am obliged to use country fixed-effects here even in the case of one country.

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Because you have only one country, using any effect to account for country is nonsense. Your results are only valid in the country of Egypt.

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