Table 2.5 Baseline Regression: Instrumental Variables (IV) Estimation Dependent variable: Output correlation for countries j and k LAC sample, 1965–2004 (10-year period observations) Bilateral trade intensity (normalized by total trade) Trade integration
(1)
(2)
(3)
(4)
(5)
(6)
0.009**
0.013**
0.013**
0.009**
0.013**
0.013**
[0.00] Grubel-Lloyd index of intra-industry trade
Bilateral trade intensity (normalized by total output)
0.253** [0.08]
[0.00] 0.239** [0.08]
[0.00] 0.255** [0.08]
[0.00] 0.248** [0.08]
[0.00] 0.240** [0.08]
[0.00] 0.255** [0.08]
Structural asymmetries In production (ASP)
In exports (ASX)
In imports (ASM)
–0.597**
–0.626**
[0.17]
[0.17] –0.034*
–0.034*
[0.02]
[0.02] –0.011
–0.013
[0.02]
[0.02] (continued)
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