From: The impact of COVID-19 government policy on the international wine trade
Variables | Equation-1 | Equation-2 | Equation-1 | Equation-2 | Equation-1 | Equation-2 |
---|---|---|---|---|---|---|
(i) | (ii) | (iii) | (iv) | (v) | (vi) | |
\(\log {\text{C}}\& {\text{H}}_{{{\text{exporter}}, t}}\) | 0.012 | 0.010 | ||||
(0.023) | (0.022) | |||||
\(\log {\text{C}}\& {\text{H}}_{{{\text{importer}}, t}}\) | − 0.123*** | − 0.065** | ||||
(0.037) | (0.026) | |||||
\(\log {\text{C}}\& {\text{H}}_{{{\text{importer}}, t - 1}}\) | − 0.066*** | |||||
(0.020) | ||||||
\(\log {\text{C}}\& {\text{H}}_{{{\text{importer}}, t - 2}}\) | − 0.066** | |||||
(0.027) | ||||||
\(\log \;{\text{Str}}_{{{\text{exporter}}, t}}\) | − 0.009 | − 0.005 | ||||
(0.024) | (0.023) | |||||
\({\text{log}}\;{\text{Str}}_{{{\text{importer, }}t}}\) | − 0.121*** | − 0.072*** | ||||
(0.029) | (0.021) | |||||
\(\log {\text{Str}}_{{{\text{importer}}, t - 1}}\) | − 0.038* | |||||
(0.020) | ||||||
\(\log \;{\text{Str}}_{{{\text{importer}}, t - 2}}\) | − 0.072*** | |||||
(0.019) | ||||||
\(\log {\text{Eco}}_{{{\text{exporter}}, t}}\) | 0.032 | 0.030 | ||||
(0.024) | (0.024) | |||||
\(\log {\text{Eco}}_{{{\text{importer}}, t}}\) | − 0.017 | − 0.006 | ||||
(0.011) | (0.009) | |||||
\(\log {\text{Eco}}_{{{\text{importer}}, t - 1}}\) | − 0.006 | |||||
(0.009) | ||||||
\(\log {\text{Eco}}_{{{\text{importer}}, t - 2}}\) | − 0.008 | |||||
(0.012) | ||||||
\({\text{Constant}}\) | 20.120*** | 20.301*** | 20.149*** | 20.286*** | 19.851*** | 19.868*** |
(0.707) | (0.719) | (0.715) | (0.728) | (0.698) | (0.701) | |
Exporter controls | Yes | Yes | Yes | Yes | Yes | Yes |
Importer controls | Yes | Yes | Yes | Yes | Yes | Yes |
Time controls | Yes | Yes | Yes | Yes | Yes | Yes |
N | 206,097 | 197,539 | 206,097 | 197,539 | 206,097 | 197,539 |
pseudo-R2 | 0.892 | 0.893 | 0.892 | 0.893 | 0.892 | 0.893 |
RESET | 7.84*** | 4.55** | 7.34*** | 9.86*** | 7.34*** | 2.94* |