Table 1 Reference model results...

Table 1

Reference model results

Variables	RST	RSTAlt	RSTSW	RSTAltSW	RSTPPML	RSTPPMLAlt	RSTPPMLSW	REFMODSW
lInstitution	0.275 (0.213)	0.088 (0.071)	0.648*** (0.121)	0.083*** (0.021)	3.615* (1.785)	0.143* (0.069)	0.933*** (0.160)	0.115*** (0.021)
lIntegration	1.657*** (0.210)	1.432*** (0.095)			4.403** (1.596)	1.302*** (0.087)
lGeography	0.374* (0.150)	0.423** (0.136)	−0.143 (0.083)	0.123* (0.050)	−0.543 (0.502)	0.410** (0.127)	−0.271* (0.112)	0.111* (0.050)
lIntegrationSW			1.079*** (0.064)	0.790*** (0.016)			1.208*** (0.084)	0.799*** (0.016)
Constant	0.105*** (0.018)	0.087*** (0.012)	0.008 (0.006)	0.006 (0.004)	0.271** (0.103)	0.082*** (0.011)	0.008 (0.008)	0.005 (0.004)
N	2,361	2,334	2,361	2,334	2,361	2,334	2,361	2,334
R²	0.022	0.010	0.589	0.560	0.139	0.015	0.578	0.569
EstEqBiCom
Fixed effect	Yes	Yes	Yes	Yes	No	No	No	No
PPML	No	No	No	No	Yes	Yes	Yes	Yes
Trade opening
Standard	Yes	Yes	Yes	Yes	No	No	No	No
Squalli Wilson	No	No	No	No	Yes	Yes	Yes	Yes
Instrument
Base on RST	Yes	No	Yes	No	Yes	No	Yes	No
Alternative	No	Yes	No	Yes	No	Yes	No	Yes

Variables	RST	RSTAlt	RSTSW	RSTAltSW	RSTPPML	RSTPPMLAlt	RSTPPMLSW	REFMODSW
lInstitution	0.275 (0.213)	0.088 (0.071)	0.648*** (0.121)	0.083*** (0.021)	3.615* (1.785)	0.143* (0.069)	0.933*** (0.160)	0.115*** (0.021)
lIntegration	1.657*** (0.210)	1.432*** (0.095)			4.403** (1.596)	1.302*** (0.087)
lGeography	0.374* (0.150)	0.423** (0.136)	−0.143 (0.083)	0.123* (0.050)	−0.543 (0.502)	0.410** (0.127)	−0.271* (0.112)	0.111* (0.050)
lIntegrationSW			1.079*** (0.064)	0.790*** (0.016)			1.208*** (0.084)	0.799*** (0.016)
Constant	0.105*** (0.018)	0.087*** (0.012)	0.008 (0.006)	0.006 (0.004)	0.271** (0.103)	0.082*** (0.011)	0.008 (0.008)	0.005 (0.004)
N	2,361	2,334	2,361	2,334	2,361	2,334	2,361	2,334
R²	0.022	0.010	0.589	0.560	0.139	0.015	0.578	0.569
EstEqBiCom
Fixed effect	Yes	Yes	Yes	Yes	No	No	No	No
PPML	No	No	No	No	Yes	Yes	Yes	Yes
Trade opening
Standard	Yes	Yes	Yes	Yes	No	No	No	No
Squalli Wilson	No	No	No	No	Yes	Yes	Yes	Yes
Instrument
Base on RST	Yes	No	Yes	No	Yes	No	Yes	No
Alternative	No	Yes	No	Yes	No	Yes	No	Yes

Note(s): ESTEqBiCom: Bilateral Trade Equation Estimators. The natural logarithm is represented by “ln” before the independent variables. IntegrationSW is the integration measure proposed by Squalli and Wilson (2011). Standard errors are in parentheses. Significance levels are as follows: *p < 0.05, **p < 0.01, ***p < 0.001

Source(s): Elaborated by the authors

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