**Appendix Table A1: Estimates of  σ, the Armington CES Elasticities**

|**Country**||**Estimate**|**and test**|||||**Model**|
|---|---|---|---|---|---|---|---|---|
||**σ**|**Standard**<br>**Error**|**t-**<br>**statistic**|**NOB**<br>**after**<br>**adj**|**Method**|**Lags**<br>**intervals**<br>**in VEC**|**Constant and**<br>**trend structure in**<br>**VEC**|**Additional specifications**|
|Albania|0.551|0.235|2.342|28|FMOLS|||CE deterministic regressors= C, T, xgr; additional<br>deterministic regressors: T^2|
|Algeria|0.801|0.110|7.282|46|VEC|1,2|C in CE|mshare exogenous in VAR|
|Angola|0.716|0.064|11.165|36|VEC|1,2|C in CE, VAR|eshare exogenous in CE, VAR|
|||||||||factor demand spec; CE deterministic regressors =|
|Antigua and Barbuda|1.054|0.304|3.467|41|FMOLS|||<br>C, T, eshare, xgr; additional deterministic<br>regressors = T^2|
|Argentina|0.993|0.055|18.109|43|VEC|1,5|C, T in CE,VAR|<br>mshare exogenous in CE; a dummy for 1998-2002<br>(depression)|
|Armenia|0.709|0.094|7.532|26|VEC|1,2|C in CE,VAR|<br>mshare exogenous in VAR|
|Aruba|1.393|0.294|4.743|24|VEC|1,3|C in CE,VAR|xgr exogenous in CE; mshare exogenous in VAR|
|Australia|2.490|0.810|3.075|43|VEC|1,5||xgr exogenous in CE; eshare, egr exogenous in VAR|
|Austria|1.128|0.070|16.068|46|VEC|1,2|T in CE; C in VAR|mshare exogenous in VAR|
|Azerbaijan|0.503|0.241|2.087|23|VEC|1,3|C, T in CE; C in VAR|xgr exogenous in CE; mshare exogenous in VAR|
|Bahamas, The|0.931|0.047|20.006|26|VEC|1,3||dummy after 1996 exogenous in CE, VAR|
|Bahrain|1.283|0.437|2.937|45|VEC|1,3|C in CE|factor demand spec; eshare exogenous in VAR|
|Bangladesh|0.732|0.097|7.560|43|VEC|1,5||mgr, xgr exogenous in CE; mshare, xgr exogenous<br>in VAR|
|Barbados|0.902|0.035|25.850|46|VEC|1,2|C in CE,VAR|mshare in VAR|
|Belarus|0.536|0.101|5.312|28|FMOLS|||CE deterministic regressor= C|
|Belgium|1.637|0.394|4.151|46|VEC|1,2|C, T in CE, VAR||
|Belize|0.544|0.171|3.174|48|FMOLS|||CE deterministic regressors= C, T, xgr; additional<br>deterministic regressors: T^2, mshare|
|Benin|0.764|0.032|23.935|42|VEC|1,6|C, T in CE; C in VAR|mshare exogenous in VAR|
|Bermuda|0.915|0.077|11.963|46|VEC|1,2|C in CE, VAR|mshare exogenous in VAR|
|Bhutan|0.836|0.160|5.232|38|FMOLS|||CE deterministic regressors= C, mshare,mgr|
|Bolivia|0.668|0.116|5.756|48|FMOLS|||CE deterministic regressors= C, T, mshare, xgr;<br>additional deterministic regressors: T^2|
|Bosnia and<br>Herzegovina|0.339|0.032|10.671|23|VEC|1,3|C, T in VAR|xgr as extra endogenous var in CE<br>|
|Botswana|0.905|0.353|2.563|48|FMOLS|||factor demand spec; CE deterministic regressors=<br>C, T, lyx; additional deterministic regressors: T^2,<br>mshare|
|Brazil|0.939|0.027|35.023|46|VEC|1,2|C in CE|xgr exogenous in CE; mshare exogenous in VAR|
|Brunei Darussalam|1.452|0.157|9.262|24|VEC|1,5||mshare exogenous in CE|
|Bulgaria|0.788|0.143|5.523|28|FMOLS|||CE deterministic regressors = C, T, xgr, mshare|
|Burkina Faso|0.813|0.037|22.102|43|VEC|1,5|C in CE|xgr exogenous in CE; mshare exogenous in VAR|
|Burundi|0.626|0.310|2.020|46|VEC|1,2|C,T in CE, VAR|mgr as extra endogenous var|
|Cabo Verde|0.799|0.085|9.372|36|VEC|1,2|||
|Cambodia|0.496|0.191|2.595|25|GMM|||C, ar(1) as extra vars; insts=mshare, mgr|
|Cameroon|0.411|0.094|4.355|43|VEC|1,5|C,T in CE; C in VAR|xgr exogenous in VAR|
|Canada|1.949|0.354|5.499|48|FMOLS|||CE deterministic regressor = C|
|Central African Rep.|0.427|0.166|2.568|48|FMOLS|||CE deterministic regressor = C|
|Chad|0.729|0.248|2.939|43|VEC|1,5|T in CE; C in VAR|lyx exogenous in CE; xgr, mshare exogenous in VAR|
|Chile|0.895|0.157|5.698|45|VEC|1,3|C in CE, VAR|lyx exogenous in CE and VAR; mgr exogenous in<br>VAR|