| |
Intra-industry trade in vertically differentiated products |
intra-industry trade in horizontally differentiated products |
| Coefficient (t-Student) |
Coefficient (t-Student) |
| TSDt-1 |
-0.488**
( -0.877) |
-0.511*
( -0.844) |
| INV |
0.423**
(0.277) |
0.394***
(0.158) |
| DS |
0.113
(0.71) |
0.299**
(2.94) |
| FSH |
-0.039***
(-1.01) |
0.111
(0.87) |
| FSV |
8.519**
(1.28) |
4.957***
(2.86) |
| TER |
-4.333**
(-1.228) |
-5.23**
(-3.08) |
| OC |
0.003**
(0.124) |
0.109**
(0.87) |
| GDP |
9.125
(2.87) |
6.357*
(2.57) |
| Constant |
-19.663**
( -2.48) |
-48.258***
( -5.17) |
Hansen test of validity of
instruments |
chi2(198) = 0.00
p-value = 1.000 |
chi2(198) = 0.00
p-value = 1.000 |
Sargan test of validity of
instruments |
chi2(198) = 144.96
p-value = 0.481 |
chi2(198) = 151.22
p-value = 0.574 |
| Arellano-Bond test for AR (1) in first differences |
z = -2.12
p-value = 0.035 |
z = -2.65
p-value = 0.041 |
| Arellano-Bond test for AR (2) in first differences |
z = 0.67
p-value= 0.516 |
z = 0.71
p-value= 0.509 |