Table 3. Estimates of expenditure,...

Table 3.

Estimates of expenditure, own-price and cross-price elasticities of demand for Lucerne hay import in China from South Africa, USA, Australia, Spain and ROW.

Elasticities	Estimate	Std. Err	t	Pr(>\|t\|)
Expenditure elasticities
Expend share (wi)_SouthAfr	1.108	0.495	2.238	0.026*
Expend share (wi)_USA	0.908	0.037	24.719	0.000***
Expend share (wi)_AUST	0.550	0.253	2.177	0.031*
Expend share (wi)_Spain	2.329	0.237	9.829	0.000***
Expend share (wi)_ROW	1.185	0.235	5.048	0.000***
Hicksian (compensated) price elasticities
E (wi)_South Afr- South afr	−3.431	2.535	−1.353	0.177
E (wi)_South Afr- USA	4.235	2.979	1.422	0.157
Ε (wi)_South Afr- AUST	−1.655	1.736	−0.954	0.341
Ε (wi)_South Afr- Spain	−0.054	1.789	−0.030	0.976
Ε (wi)_South Afr- ROW	0.905	1.491	0.607	0.545
Ε (wi)_USA- South afr	0.166	0.116	1.422	0.157
Ε (wi)_USA- USA	0.616	0.198	3.118	0.002**
Ε (wi)_USA- AUST	−0.528	0.101	−5.213	0.000***
Ε (wi)_USA- Spain	−0.156	0.122	−1.287	0.199
Ε (wi)_USA- ROW	−0.097	0.100	−0.969	0.334
Ε (wi)_AUST- South afr	−0.454	0.476	−0.954	0.341
Ε (wi)_AUST- USA	−3.705	0.710	−5.219	0.000***
Ε (wi)_AUST- AUST	3.914	0.871	4.494	0.000***
Ε (wi)_AUST- Spain	0.280	0.536	0.523	0.602
Ε (wi)_AUST- ROW	−0.035	0.714	−0.049	0.961
Ε (wi)_Spain- South afr	−0.020	0.644	−0.030	0.976
Ε (wi)_Spain- USA	−1.442	1.119	−1.288	0.199
Ε (wi)_Spain- AUST	0.368	0.703	0.523	0.601
Ε (wi)_Spain- Spain	0.496	0.960	0.516	0.606
Ε (wi)_Spain- ROW	0.598	0.626	0.956	0.340
Ε (wi)_ROW- South afr	0.827	1.363	0.607	0.545
Ε (wi)_ROW- USA	−2.276	2.347	−0.970	0.333
Ε (wi)_ROW- AUST	−0.116	2.381	−0.049	0.961
Ε (wi)_ROW- Spain	1.518	1.590	0.955	0.341
Ε (wi)_ROW- ROW	0.048	1.258	0.038	0.970
Marshallian (uncompensated) price elasticities
ɛ (wi)_South Afr- South afr	−3.463	2.532	−1.367	0.173
ɛ (wi)_South Afr- USA	3.404	3.091	1.101	0.272
ɛ (wi)_South Afr- AUST	−1.774	1.748	−1.015	0.311
ɛ (wi)_South Afr- Spain	−0.144	1.784	−0.081	0.936
ɛ (wi)_South Afr- ROW	0.869	1.486	0.585	0.559
ɛ (wi)_USA- South afr	0.139	0.116	1.195	0.234
ɛ (wi)_USA- USA	−0.065	0.209	−0.311	0.757
ɛ (wi)_USA- AUST	−0.625	0.102	−6.113	0.000***
ɛ (wi)_USA- Spain	−0.230	0.121	−1.910	0.058
ɛ (wi)_USA- ROW	−0.126	0.100	−1.265	0.207
ɛ (wi)_AUST- South afr	−0.470	0.476	−0.987	0.325
ɛ (wi)_AUST- USA	−4.118	0.740	−5.565	0.000***
ɛ (wi)_AUST- AUST	3.855	0.881	4.378	0.000***
ɛ (wi)_AUST- Spain	0.235	0.532	0.443	0.659
ɛ (wi)_AUST- ROW	−0.053	0.711	−0.074	0.941
ɛ (wi)_Spain- South afr	−0.088	0.644	−0.136	0.892
ɛ (wi)_Spain- USA	−3.189	1.176	−2.713	0.007**
ɛ (wi)_Spain- AUST	0.119	0.711	0.167	0.867
ɛ (wi)_Spain- Spain	0.306	0.956	0.320	0.749
ɛ (wi)_Spain- ROW	0.523	0.623	0.840	0.402
ɛ (wi)_ROW- South afr	0.792	1.362	0.582	0.561
ɛ (wi)_ROW- USA	−3.165	2.386	−1.326	0.186
ɛ (wi)_ROW- AUST	−0.243	2.380	−0.102	0.919
ɛ (wi)_ROW- Spain	1.421	1.590	0.894	0.372
ɛ (wi)_ROW- ROW	0.010	1.258	0.008	0.994

Elasticities	Estimate	Std. Err	t	Pr(>\|t\|)
Expenditure elasticities
Expend share (wi)_SouthAfr	1.108	0.495	2.238	0.026*
Expend share (wi)_USA	0.908	0.037	24.719	0.000***
Expend share (wi)_AUST	0.550	0.253	2.177	0.031*
Expend share (wi)_Spain	2.329	0.237	9.829	0.000***
Expend share (wi)_ROW	1.185	0.235	5.048	0.000***
Hicksian (compensated) price elasticities
E (wi)_South Afr- South afr	−3.431	2.535	−1.353	0.177
E (wi)_South Afr- USA	4.235	2.979	1.422	0.157
Ε (wi)_South Afr- AUST	−1.655	1.736	−0.954	0.341
Ε (wi)_South Afr- Spain	−0.054	1.789	−0.030	0.976
Ε (wi)_South Afr- ROW	0.905	1.491	0.607	0.545
Ε (wi)_USA- South afr	0.166	0.116	1.422	0.157
Ε (wi)_USA- USA	0.616	0.198	3.118	0.002**
Ε (wi)_USA- AUST	−0.528	0.101	−5.213	0.000***
Ε (wi)_USA- Spain	−0.156	0.122	−1.287	0.199
Ε (wi)_USA- ROW	−0.097	0.100	−0.969	0.334
Ε (wi)_AUST- South afr	−0.454	0.476	−0.954	0.341
Ε (wi)_AUST- USA	−3.705	0.710	−5.219	0.000***
Ε (wi)_AUST- AUST	3.914	0.871	4.494	0.000***
Ε (wi)_AUST- Spain	0.280	0.536	0.523	0.602
Ε (wi)_AUST- ROW	−0.035	0.714	−0.049	0.961
Ε (wi)_Spain- South afr	−0.020	0.644	−0.030	0.976
Ε (wi)_Spain- USA	−1.442	1.119	−1.288	0.199
Ε (wi)_Spain- AUST	0.368	0.703	0.523	0.601
Ε (wi)_Spain- Spain	0.496	0.960	0.516	0.606
Ε (wi)_Spain- ROW	0.598	0.626	0.956	0.340
Ε (wi)_ROW- South afr	0.827	1.363	0.607	0.545
Ε (wi)_ROW- USA	−2.276	2.347	−0.970	0.333
Ε (wi)_ROW- AUST	−0.116	2.381	−0.049	0.961
Ε (wi)_ROW- Spain	1.518	1.590	0.955	0.341
Ε (wi)_ROW- ROW	0.048	1.258	0.038	0.970
Marshallian (uncompensated) price elasticities
ɛ (wi)_South Afr- South afr	−3.463	2.532	−1.367	0.173
ɛ (wi)_South Afr- USA	3.404	3.091	1.101	0.272
ɛ (wi)_South Afr- AUST	−1.774	1.748	−1.015	0.311
ɛ (wi)_South Afr- Spain	−0.144	1.784	−0.081	0.936
ɛ (wi)_South Afr- ROW	0.869	1.486	0.585	0.559
ɛ (wi)_USA- South afr	0.139	0.116	1.195	0.234
ɛ (wi)_USA- USA	−0.065	0.209	−0.311	0.757
ɛ (wi)_USA- AUST	−0.625	0.102	−6.113	0.000***
ɛ (wi)_USA- Spain	−0.230	0.121	−1.910	0.058
ɛ (wi)_USA- ROW	−0.126	0.100	−1.265	0.207
ɛ (wi)_AUST- South afr	−0.470	0.476	−0.987	0.325
ɛ (wi)_AUST- USA	−4.118	0.740	−5.565	0.000***
ɛ (wi)_AUST- AUST	3.855	0.881	4.378	0.000***
ɛ (wi)_AUST- Spain	0.235	0.532	0.443	0.659
ɛ (wi)_AUST- ROW	−0.053	0.711	−0.074	0.941
ɛ (wi)_Spain- South afr	−0.088	0.644	−0.136	0.892
ɛ (wi)_Spain- USA	−3.189	1.176	−2.713	0.007**
ɛ (wi)_Spain- AUST	0.119	0.711	0.167	0.867
ɛ (wi)_Spain- Spain	0.306	0.956	0.320	0.749
ɛ (wi)_Spain- ROW	0.523	0.623	0.840	0.402
ɛ (wi)_ROW- South afr	0.792	1.362	0.582	0.561
ɛ (wi)_ROW- USA	−3.165	2.386	−1.326	0.186
ɛ (wi)_ROW- AUST	−0.243	2.380	−0.102	0.919
ɛ (wi)_ROW- Spain	1.421	1.590	0.894	0.372
ɛ (wi)_ROW- ROW	0.010	1.258	0.008	0.994

Note(s):

Significant codes: 0 “***” 0.001 “**” 0.01 “*” 0.05 “.” 0.1 “ ”1

Source(s): Authors compilations

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