Table 2.3 Baseline Regression: Least Squares (continued) Dependent variable: Output correlation for countries j and k LAC sample, 1965–2004 (10-year period observations) Bilateral trade intensity (normalized by total trade)
Bilateral trade intensity (normalized by total output)
(1)
(2)
(3)
(4)
(5)
(6)
Perioda
Yes
Yes
Yes
Yes
Yes
Yes
Period × (China and India)a
Yes
Yes
Yes
Yes
Yes
Yes
Country groupb
Yes
Yes
Yes
Yes
Yes
Yes
Country pairs
Yes
Yes
Yes
Yes
Yes
Yes
Dummies
Source: Author. Note: ASM = asymmetries in the structures of imports; ASP = asymmetries in the structures of production; ASX = asymmetries in the structures of exports. Numbers in brackets represent robust standard errors (White 1980). a. Dummies are included for the periods 1975–84, 1985–94, and 1995–2004. Time dummies are also included, multiplied by (LAC, China) and (LAC, India) country-pairs. They are separately included in the regressions and are intended to capture demand spillovers in LAC from China and India. b. The regression analysis includes dummies for (LAC, DEV) and (LAC, LAC) country pairs. *Statistically significant at the 10 percent level. **Statistically significant at the 5 percent level.
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