Table 3 Simulation results with... | Emerald Publishing

Table 3

Simulation results with uncorrelated shocks

Dependent	Real value-added				Gross output
	Aggregate	Goods	Services	Cross	Aggregate	Goods	Services	Cross
	(1)	(2)	(3)	(4)	(1)	(2)	(3)	(4)
Baseline case: ${g v c}_{j i t}^{x} (s^{'}, s) = 0$
Log bilateral trade	0.009***	0.012***	0.007**	0.003	0.019***	0.032***	0.012***	0.010**
Log bilateral trade	(0.003)	(0.004)	(0.003)	(0.002)	(0.006)	(0.006)	(0.004)	(0.004)
Constant	0.060***	0.112***	0.036**	0.020	0.159***	0.346***	0.079***	0.086***
Constant	(0.020)	(0.020)	(0.015)	(0.012)	(0.036)	(0.036)	(0.024)	(0.023)
Observation	351	351	351	702	351	351	351	702
R Squared	0.11	0.10	0.06	0.01	0.11	0.15	0.07	0.03
GVC case: ${g v c}_{j i t}^{x} (s^{'}, s) \neq 0$
Log bilateral trade	0.012***	0.015***	0.010***	0.002	0.026***	0.037***	0.021***	0.013***
Log bilateral trade	(0.004)	(0.004)	(0.003)	(0.003)	(0.008)	(0.008)	(0.005)	(0.005)
Constant	0.064***	0.114***	0.045***	0.013	0.179***	0.342***	0.107***	0.093***
Constant	(0.021)	(0.021)	(0.016)	(0.013)	(0.037)	(0.039)	(0.023)	(0.024)
Observation	351	351	351	702	351	351	351	702
R Squared	0.11	0.09	0.08	0.00	0.14	0.13	0.14	0.03

Dependent	Real value-added				Gross output
	Aggregate	Goods	Services	Cross	Aggregate	Goods	Services	Cross
	(1)	(2)	(3)	(4)	(1)	(2)	(3)	(4)
Baseline case: ${g v c}_{j i t}^{x} (s^{'}, s) = 0$
Log bilateral trade	0.009***	0.012***	0.007**	0.003	0.019***	0.032***	0.012***	0.010**
Log bilateral trade	(0.003)	(0.004)	(0.003)	(0.002)	(0.006)	(0.006)	(0.004)	(0.004)
Constant	0.060***	0.112***	0.036**	0.020	0.159***	0.346***	0.079***	0.086***
Constant	(0.020)	(0.020)	(0.015)	(0.012)	(0.036)	(0.036)	(0.024)	(0.023)
Observation	351	351	351	702	351	351	351	702
R Squared	0.11	0.10	0.06	0.01	0.11	0.15	0.07	0.03
GVC case: ${g v c}_{j i t}^{x} (s^{'}, s) \neq 0$
Log bilateral trade	0.012***	0.015***	0.010***	0.002	0.026***	0.037***	0.021***	0.013***
Log bilateral trade	(0.004)	(0.004)	(0.003)	(0.003)	(0.008)	(0.008)	(0.005)	(0.005)
Constant	0.064***	0.114***	0.045***	0.013	0.179***	0.342***	0.107***	0.093***
Constant	(0.021)	(0.021)	(0.016)	(0.013)	(0.037)	(0.039)	(0.023)	(0.024)
Observation	351	351	351	702	351	351	351	702
R Squared	0.11	0.09	0.08	0.00	0.14	0.13	0.14	0.03

Note(s): Robust standard errors are in parentheses. *** and ** are significant at the 1 and 5% levels, respectively

Source(s): Table by author