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Table 2 Results of models explaining the coefficients of producer price variation

From: Institutional contributions to agricultural producer price stability

   Coefficient (standard error)   
  Main models    Supplementary model
Explanatory variable OLS CFE IPFE IPFE with all explanatory variables
Intercept 0.27(0.04)***    
Country (Russia = 0; Switzerland = 1)  − 0.01(0.03)    − 0.02(0.03)  − 0.04(0.04)
    Russia   0.17(0.03)***   
    Switzerland   0.16(0.04)***   
Time: trend  − 0.01(0.01) 0(0)  − 0.01(0.01)  − 0.01(0.01)
Institutional period: stable institutions     
    2004–2007  − 0.06(0.02)*   0.2(0.04)*** 0.24(0.05)***
    2010–2013  − 0.03(0.01)*  − 0.01(0.01) 0.21(0.07)** 0.25(0.08)**
    2016–2019  − 0.04(0.02)*  − 0.06(0.02)** 0.19(0.11) . 0.23(0.11) *
Institutional period: transitions     
    2008–2009–Crisis   0.04(0.02)* 0.25(0.06)*** 0.30(0.06)***
    2014–2015–Policy change    0.24(0.09)** 0.27(0.1)**
Agro-holding structure      − 0.03(0.03)
Domestic producer price is higher than world price (yes = 1)      − 0.02(0.02)
Dummy on type of production (crop = 0; animal = 1)  − 0.03(0.01)**  − 0.03(0.01)**  − 0.03(0.01)*  − 0.02(0.02)
Investment subsidies in previous period (yes = 1)     − 0.02(0.03)  − 0.01(0.03)
Purchasing interventions or quotas (yes = 1)      − 0.01(0.02)
Price negotiations or recommendations (yes = 1)  − 0.01(0.01)  − 0.01(0.01)  − 0.01(0.01)  − 0.01(0.01)
Production in small and medium farms (yes = 1)      − 0.02(0.03)
Sector liberalisation (yes = 1)      − 0.02(0.02)
Ratio of exports to production 0.05(0.06) 0.04(0.06) 0.04(0.06) 0.07(0.07)
Ratio of imports to consumption  − 0.07(0.02)**  − 0.07(0.02)**  − 0.07(0.02)**  − 0.07(0.03)*
Specialisation (yes = 1)      − 0.0004(0.02)
Supply net integration (yes = 1)  − 0.06(0.03)*  − 0.06(0.03)*  − 0.05(0.03) .  − 0.04(0.04)
  1. Significance codes: ‘***’ = p ≤ 0.001; ‘**’ = p ≤ 0.01; ‘*’ = p ≤ 0.05; ‘.’ = p ≤ 0.1. The years under study: 2004─2019. The number of observations is 238. All models are significant according to the F-test on overall significance in regression analysis, where H0: The fit of the intercept-only model and the assessed model are equal (the model is significant if H0 is rejected). The models are selected by best adjusted coefficient of determination, which amounts from 0.32 to 0.33. ° Supplementary model for (i) testing the robustness of the coefficients to adding other explanatories and (ii) presenting the coefficients that we obtained for other explanatories; we do not interpret this model because it has a potential overfit