Agricultural and Food Economics

Table 11 Estimation results of panel data analysis

From: Examining the determinants of global and local price passthrough in cereal markets: evidence from DCC-GJR-GARCH and panel analyses

Dependent variable	Independent variable
Dependent variable	DCC^W	DCC^M	DCC^R
SSR	− 0.006^b	− 0.054^b	− 0.013^b
SSR	(− 5.91)	(− 7.41)	(− 0.72)
WC	–	− 0.104^a	0.069
WC	–	(− 2.58)	(1.39)
MC	− 0.05^a	–	− 0.022
MC	(− 2.14)	–	(− 0.72)
RC	0.014	0.039	–
RC	(0.47)	(0.55)	–
Constant	− 0.065^b	0.148^b	0.082^b
Constant	(− 11.06)	(16.02)	(9.43)
Observations	128	128	128

^a and ^b indicate statistical significance at the 5% and 1% levels, respectively. z-statistics are in parentheses

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