Static panel data analyses
| Variables | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
| OLS | FE | LSDV | RE | |
| Regional trade | 0.0846*** | 0.0370*** | 0.0811*** | 0.0380*** |
| (0.0120) | (0.00414) | (0.0128) | (0.00462) | |
| Non-regional trade | 0.000325 | 0.00123 | 0.00210 | 0.00128 |
| (0.00361) | (0.000810) | (0.00391) | (0.000909) | |
| Exchange rate | −0.0277*** | 0.0327*** | −0.0274*** | 0.0317*** |
| (0.00913) | (0.00347) | (0.00965) | (0.00389) | |
| Population growth | −1.348*** | −97.57** | −1.359*** | −133.1** |
| (85.67) | (46.83) | (89.25) | (51.98) | |
| Unemployment rate | 15.65** | −31.79** | 15.64** | −19.02 |
| (6.809) | (15.04) | (7.043) | (14.91) | |
| Gross capital formation | 41.44*** | 2.742 | 44.86*** | 3.162 |
| (5.343) | (2.332) | (5.817) | (2.607) | |
| Constant | 4.515*** | 2.436*** | 4.650*** | 2.499*** |
| (296.1) | (179.7) | (357.2) | (301.4) | |
| Observations | 132 | 132 | 132 | 132 |
| R-squared | 0.849 | 0.800 | 0.856 | |
| Country effect | NO | YES | YES | YES |
| Year effect | NO | NO | NO | NO |
| F-test | 111 | 71.91 | 34.95 | |
| Prob > F | 0 | 0 | 0 | |
| No of countries | 12 | 12 | ||
| Wald-chi2 | 352 | |||
| Prob > chi2 | 0 |
| Variables | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
| OLS | FE | LSDV | RE | |
| Regional trade | 0.0846*** | 0.0370*** | 0.0811*** | 0.0380*** |
| (0.0120) | (0.00414) | (0.0128) | (0.00462) | |
| Non-regional trade | 0.000325 | 0.00123 | 0.00210 | 0.00128 |
| (0.00361) | (0.000810) | (0.00391) | (0.000909) | |
| Exchange rate | −0.0277*** | 0.0327*** | −0.0274*** | 0.0317*** |
| (0.00913) | (0.00347) | (0.00965) | (0.00389) | |
| Population growth | −1.348*** | −97.57** | −1.359*** | −133.1** |
| (85.67) | (46.83) | (89.25) | (51.98) | |
| Unemployment rate | 15.65** | −31.79** | 15.64** | −19.02 |
| (6.809) | (15.04) | (7.043) | (14.91) | |
| Gross capital formation | 41.44*** | 2.742 | 44.86*** | 3.162 |
| (5.343) | (2.332) | (5.817) | (2.607) | |
| Constant | 4.515*** | 2.436*** | 4.650*** | 2.499*** |
| (296.1) | (179.7) | (357.2) | (301.4) | |
| Observations | 132 | 132 | 132 | 132 |
| 0.849 | 0.800 | 0.856 | ||
| Country effect | NO | YES | YES | YES |
| Year effect | NO | NO | NO | NO |
| 111 | 71.91 | 34.95 | ||
| Prob > | 0 | 0 | 0 | |
| No of countries | 12 | 12 | ||
| Wald-chi2 | 352 | |||
| Prob > chi2 | 0 |
Note(s): Standard errors in parentheses; *p < 0.1, **p < 0.05, ***p < 0.01
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