**Table 8. Dispersion in the location premia after sorting around the mean/median/leading location premium**

|**Mexico**<br><br>|1990|2000|2015|**Honduras**<br><br>|2004/06|2009/11|2017/19|
|---|---|---|---|---|---|---|---|
|%CV(γl)|γl<br>���<br><br>|14.668|10.488|7.615|%CV(γl)|γl<br>���<br><br>|9.195|7.835|8.380|
|%CV(γl)|γ<sup>∗</sup><br><br>|13.558|9.750|7.142|%CV(γl)|γ<sup>∗</sup><br><br>|8.561|7.349|7.899|
|Avg. (γ<sup>∗</sup>−γl)<br>|0.349|0.333|0.308|Avg. (γ<sup>∗</sup>−γl)<br>|0.306|0.286|0.256|
|γ<sup>∗</sup>−γl50 <br>|0.207|0.294|0.226|γ<sup>∗</sup>−γl50 <br>|0.232|0.259|0.252|
|**Brazil**<br><br>|2000|2010||**Costa Rica**<br><br>|2001/03|2008/09||
|%CV(γl)|γl<br>���<br><br>|8.971|7.685||%CV(γl)|γl<br>���<br><br>|3.869|3.241||
|%CV(γl)|γ<sup>∗</sup><br><br>|8.241|7.137||%CV(γl)|γ<sup>∗</sup><br><br>|3.685|3.138||
|Avg. (γ<sup>∗</sup>−γl)<br>|0.390|0.359||Avg. (γ<sup>∗</sup>−γl)<br>|0.252|0.185||
|γ<sup>∗</sup>−γl50 <br>|0.318|0.280||γ<sup>∗</sup>−γl50 <br>|0.227|0.177||
|**Peru**<br><br>|2000/03|2008/10|2017/19|**Colombia**<sup>**1/**</sup><br><br>|2001/03|2008/10|2017/19|
|%CV(γl)|γl<br>���<br><br>|11.244|9.063|6.985|%CV(γl)|γl<br>���<br><br>|3.433|3.127|2.346|
|%CV(γl)|γ∗<br><br>|9.371|7.899|6.207|%CV(γl)|γ∗<br><br>|3.360|2.948|2.241|
|Avg. (γ<sup>∗</sup>−γl)<br>|0.665|0.527|0.489|Avg. (γ<sup>∗</sup>−γl)<br>|0.092|0.270|0.221|
|γ<sup>∗</sup>−γl50 <br>|0.650|0.522|0.513|γ<sup>∗</sup>−γl50 <br>|0.055|0.314|0.227|
|**Ecuador**<br><br>|2003/04|2009/11|2017/19|**Argentina**<sup>**1/**</sup><br><br>|2003/05|2009/11|2017/19|
|%CV(γl)|γl<br>���<br><br>|7.087|5.625|4.474|%CV(γl)|γl<br>���<br><br>|5.298|4.587|4.069|
|%CV(γl)|γ∗<br><br>|6.359|5.269|4.237|%CV(γl)|γ∗<br><br>|4.811|4.312|3.915|
|Avg. (γ<sup>∗</sup>−γl)<br>|0.441|0.282|0.241|Avg. (γ<sup>∗</sup>−γl)<br>|0.397|0.305|0.190|
|<br>γ<sup>∗</sup>−γl50 <br>|0.406|0.263|0.221|<br>γ<sup>∗</sup>−γl50 <br>|0.472|0.357|0.217|
|**Chile**<br><br>|2000/03|2009/11|2015/17|**Uruguay **<sup>**1/**</sup><br><br>|2000/02|2008/10|2017/19|
|%CV(γl)|γl<br>���<br><br>|5.303|4.327|3.780|%CV(γl)|γl<br>���<br><br>|3.668|2.834|2.783|
|%CV(γl)|γ∗<br><br>|5.052|4.202|3.671|%CV(γl)|γ∗<br><br>|3.402|2.736|2.664|
|Avg. (γ<sup>∗</sup>−γl)<br>|0.223|0.153|0.160|Avg. (γ<sup>∗</sup>−γl)<br>|0.351|0.153|0.210|
|γ<sup>∗</sup>−γl50|0.219|0.157|0.178|γ<sup>∗</sup>−γl50|0.389|0.129|0.186|
|**Dominican**<br>**Republic**<br><br>|2000/02|2008/10|2014/16|**Bolivia**<sup>**1/**</sup><br><br>|2001/02|2011/13|2017/19|
|%CV(γl)|γl<br>���<br><br>|5.543|4.531|4.237|%CV(γl)|γl<br>���<br><br>|9.256|5.869|3.585|
|%CV(γl)|γ∗<br><br>|5.145|4.287|4.048|%CV(γl)|γ∗<br><br>|8.743|5.597|3.429|
|Avg. (γ<sup>∗</sup>−γl)<br>|0.380|0.280|0.226|Avg. (γ<sup>∗</sup>−γl)<br>|0.245|0.237|0.226|
|γ<sup>∗</sup>−γl50 <br>|0.351|0.246|0.175|γ<sup>∗</sup>−γl50|0.336|0.205|0.246|
|**Panama**<sup>**1/**</sup><br><br>|2001/03|2009/11|2017/19|||||
|%CV(γl)|γl<br>���<br><br>|6.614|7.076|5.865|||||
|%CV(γl)|γ∗<br><br>|6.272|6.513|5.538|||||
|Avg. (γ<sup>∗</sup>−γl)<br>|0.222|0.371|0.272|||||
|<br>γ<sup>∗</sup>−γ|0.152|0.301|0.203|||||
|l50 <br>Notes: 1/Analysis co<br>to the first administr<br>leading areas in Braz<br>leading area.%CV (<br><br>|<br>nducted at th<br>ative-level u<br>il, Chile, Me<br>γl)|γl<br>���<sup>and </sup><br><br>|<br>e first admin<br>nit where the<br>xico, and Pe<br><sup>%CV (γ</sup>l<sup>)|</sup>γ<sup>∗</sup><br> <br>|<br>istrative leve<br>leading loca<br>ru are the av<br><sup>measures t</sup><br> <br>|l. Location premium<br>tion is located. The<br>erage location premi<br><sup>he coefficient of var</sup><br><br>|(after sorting<br>location pre<br>ums of the<br><sup>iation aroun</sup><br><br>|) of leading<br>mia of the m<br>municipalitie<br><sup>d the mean</sup><br><br>|areas correspond<br>ulti-municipality<br>s included in the<br><sup>and the location</sup><br><br>|
|<br>premium in the leadi<br>|<br> <br>ng area, resp<br>|<br>ectively.Avg<br>|. (γ<sup>∗</sup>−γl)<br>|measures the averag<br>|e gap in loca<br>|tion premiu<br>|m of leading area<br>|
|<br><br>(γ<sup>∗</sup>)and each one of<br>area and the median.|<br> <br><br>the other lo<br>|<br> <br>cations(γl).|<br> (γ<sup>∗</sup>−γl50)|measures the gap bet|ween the loc|ation premi|um in the leading|

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