Table 4. AGOA and exports to US and other markets

|<br>Data at country-HS<br>year level (includ<br>Dependent|<br> <br>6-digit-destination-<br>ing zeros) is used<br>variable is:|
|---|---|
|Log|<br>Log|
|(imports + 1)|(imports + 1)|
|(1)<br>WITS/COM|(2)<br>TRADE data|
|GSP LDC * Africa<br>0.225***|0.273***|
|(14.38)|(12.94)|
|GSP LDC * Non-Africa<br>0.066***|0.133***|
|(4.09)|(6.68)|
|AGOA Non-LDC<br>0.113***|0.178***|
|(7.79)|(8.31)|
|AGOA Non-apparel<br>0.139***|0.155**|
|(3.55)|(2.75)|
|AGOA apparel<br>0.169***|0.201***|
|(3.95)|(4.23)|
|Treatment group-specific time trends<br>Yes|Yes|
|Country-product-destination fixed effects<br>Yes|Yes|
|Country-destination-year fixed effects<br>Yes|Yes|
|Product-destination-year fixed effects<br>Yes|Yes|
|Country-product-year fixed effects<br>No|Yes|
|clustered by HS 6-digit product *** ** and<br>Observations<br>52,866,235|* indicate significanc<br>50,891,350|

Notes: Robust t-statistics in parentheses, clustered by HS 6-digit product. ***, **, and * indicate significance at 1%, 5%, and 10% confidence levels, respectively. Estimates for Eq. (2) shown. The estimating sample covers years 1992-2016 and excludes all 28 EU countries from the control group.

Table 5. Impacts of AGOA on apparel and the role of domestic policy, institutions, infrastructure <u>and endowments</u>

||||Data at countr<br>Dep|y-HS 6-digit-year<br>endent variable i|level (including<br>s log (US imports|zeros) is used<br>+ 1)|||
|---|---|---|---|---|---|---|---|---|
||(1)|(2)|(3)|(4)|(5)|(6)|(7)|(8)|
|GSP LDC * Africa|0.114***|0.121***|0.115***|0.112***|0.112***|0.121***|0.115***|0.112***|
||(6.70)|(6.73)|(6.49)|(6.59)|(6.63)|(6.73)|(6.49)|(6.59)|
|GSP LDC * Non-Africa|-0.046*|-0.044*|-0.044*|-0.045*|-0.046*|-0.044*|-0.044*|-0.045*|
||(-2.43)|(-2.34)|(-2.32)|(-2.37)|(-2.43)|(-2.34)|(-2.32)|(-2.37)|
|AGOA Non-LDC|0.028|0.020|0.020|0.025|0.027|0.020|0.020|0.025|
||(1.92)|(1.08)|(1.04)|(1.60)|(1.83)|(1.07)|(1.04)|(1.59)|
|AGOA Non-apparel|0.063|0.069|0.091|0.042|0.063|0.068|0.091|0.042|
||(1.74)|(1.44)|(1.60)|(1.11)|(1.72)|(1.44)|(1.60)|(1.11)|
|AGOA apparel|0.390***|0.237***|0.142**|0.231***|0.408***|0.236***|0.143**|0.233***|
||(4.97)|(4.46)|(3.18)|(5.36)|(5.14)|(4.45)|(3.14)|(5.38)|
|AGOA apparel * Avg. import tariff|-0.017***<br>||||||||
||(-3.95)||||||||
|AGOA apparel * Cost to start a business||-0.0001|||||||
|||(-1.71)|||||||
|AGOA apparel * Internet users|||0.049**<br>||||||
||||(3.25)||||||
|AGOA apparel * Oil rents as % of GDP||||-0.015***<br>|||||
|||||(-7.32)|||||
|AGOA apparel * Avg. import tariff * 2001-2004|||||-0.029***||||
||||||(-6.13)||||
|AGOA apparel * Avg. import tariff * 2005-2017|||||-0.009*<br>||||
||||||(-2.20)||||
|AGOA apparel * Cost to start a business * 2001-2004||||||-0.001***|||
|||||||(-3.32)|||
|AGOA apparel * Cost to start a business * 2005-2017||||||-0.000<br>|||
|||||||(-0.06)|||
|AGOA apparel * Internet users * 2001-2004|||||||-0.213||
||||||||(-0.23)||
|AGOA apparel * Internet users * 2005-2017|||||||0.049**<br>(3.12)||
|AGOA apparel * Oil rents as % of GDP * 2001-2004||||||||-0.029***<br>(-5.40)|
|AGOA apparel * Oil rents as % of GDP * 2005-2017||||||||-0.014***<br>(-7.04)|
|Treatment group-specific time trends|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|Country-product fixed effects|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|Country-year fixed effects|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|Product-year fixed effects|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|s: Robust t-statistics in arentheses<br>Observations|clustered<br>27,420,560|b HS 6-d<br>26,310,236|iit rodu<br>25,889,429|t *** **<br>26,893,286|and * indi<br>27,420,560|ate sinifi<br>26,310,236|ance at 1<br>25,889,429|5% and 10%<br>26,893,286|

Notes: Robust t-statistics in parentheses, clustered by HS 6-digit product. ***, **, and * indicate significance at 1%, 5%, and 10% confidence levels, respectively. Estimates for a variant of Eq. (1) with interactions with several variables shown.

46