Table 2 Results of the PPML estimations considering the impact of the OGR on wine exports

\({\text{log}}\;{\text{Dist}}\)

− 0.457***

− 0.458***

− 0.457***

(0.084)

(0.084)

(0.084)

\({\text{Comlang}}\)

0.742***

0.740***

0.744***

(0.177)

(0.177)

(0.177)

\({\text{Colony}}\)

0.296

0.301

0.295

(0.514)

(0.512)

(0.514)

\({\text{Contig}}\)

0.292

0.282

0.291

(0.298)

(0.298)

(0.298)

\(\log ({\text{OGR}} + 1)_{{{\text{importer}}, t}}\)

− 0.132***

− 0.070***

(0.038)

(0.026)

\(\log ({\text{OGR}} + 1)_{{{\text{importer}}, t - 1}}\)

− 0.069***

(0.022)

\(\log ({\text{OGR}} + 1)_{{{\text{importer}}, t - 2}}\)

− 0.068***

(0.026)

\(\log ({\text{OGR}} + 1)_{{{\text{importer}}, t}} *{\text{OldNew}}_{{{\text{exporter}}}}\)

 \({\text{Exporter:\,Old World}}\)

− 0.102***

(0.034)

 \({\text{Exporter: New World}}\)

− 0.180***

(0.041)

 \({\text{Exporter: Other}}\)

− 0.144***

(0.041)

\(\log ({\text{OGR}} + 1)_{{{\text{exporter}}, t}}\)

0.010

0.006

(0.030)

(0.029)

\(\log \left( {{\text{StayAtHome}} + 1} \right)_{{{\text{exporter}},t}}\)

 \({\text{Exporter:\,Old World}}\)

0.018

(0.025)

 \({\text{Exporter: New World}}\)

0.012

(0.082)

 \({\text{Exporter: Other}}\)

− 0.019

(0.121)

\(\log \left( {{\text{InternalMove}} + 1} \right)_{{{\text{exporter}},t}}\)

 \({\text{Exporter:\,Old World}}\)

− 0.080**

(0.035)

 \({\text{Exporter: New World}}\)

− 0.080

(0.095)

 \({\text{Exporter: Other}}\)

− 0.028

(0.083)

\({\text{Constant}}\)

20.143***

20.328***

20.167***

(0.699)

(0.714)

(0.722)

Exporter controls

Yes

Yes

Yes

Importer controls

Yes

Yes

Yes

Time controls

Yes

Yes

Yes

N

206,097

197,539

206,097

pseudo-R²

0.892

0.893

0.893

RESET

7.80***

10.36***

10.07***