**Table 4b. Determinants of diesel prices: basic model with variables on system stability: random effects.**

||GLS||||2SLS||||
|---|---|---|---|---|---|---|---|---|
||4.9|4.10|4.11|4.12|4.13|4.14|4.15|4.16|
|Crude oil pricet|1.330<sup>~~***~~</sup><br>(0.071)|1.326<sup>~~***~~</sup><br>(0.070)|1.366<sup>~~***~~</sup><br>(0.071)|1.360<sup>~~***~~</sup><br>(0.069)|1.337<sup>~~***~~</sup><br>(0.072)|1.319<sup>~~***~~</sup><br>(0.073)|1.374<sup>~~***~~</sup><br>(0.069)|1.376<sup>~~***~~</sup><br>(0.070)|
|GDP purchasing power dollars per<br>inhabitanti,t-1|<br>0.00035<br>(0.00023)|-0.0005<br>(0.0002)|0.0002<br>(0.00024)|0.0002<br>(0.00024)|0.0001<br>(0.0005)|0.000004<br>(0.0005)|0.00004<br>(0.0005)|0.0001<br>(0.0005)|
|Net oil surplusi,t-1|-0.159<br>(0.130)|-0.121<br>(0.129)|-0.195<br>(0.136)|-0.213<br>(0.138)|-0.190<br>(0.123)|-0.143<br>(0.127)|-0.209<sup>~~*~~</sup><br>(0.113)|-0.242<sup>~~***~~</sup><br>(0.120)|
|Land in km<sup>~~2~~</sup><br>i,t|-0.032<sup>~~***~~</sup><br>(0.008)|-0.035<sup>~~***~~</sup><br>(0.008)|-0.028<sup>~~***~~</sup><br>(0.007)|-0.027<sup>~~***~~</sup><br>(0.008)|-0.030<sup>~~***~~</sup><br>(0.010)|-0.034<sup>~~***~~</sup><br>(0.011)|-0.027<sup>~~***~~</sup><br>(0.009)|-0.026<sup>~~***~~</sup><br>(0.010)|
|Opennessi,t|-0.055<br>(0.040)|-0.045<br>(0.040)|-0.068<sup>~~*~~</sup><br>(0.040)|-0.067<sup>~~*~~</sup><br>(0.041)|-0.062<br>(0.048)|-0.045<br>(0.049)|-0.074<sup>~~*~~</sup><br>(0.044)|-0.081<sup>~~*~~</sup><br>(0.047)|
|Road diesel consumption per million<br>inhabitantsi,t-1|-0.005<br>(0.007)|-0.006<br>(0.007)|-0.004<br>(0.007)|-0.005<br>(0.007)|-0.005<br>(0.007)|-0.006<br>(0.031)|0.009<br>(0.026)|0.014<br>(0.028)|
|Public health % GDPi,t-1|5.438<sup>~~***~~</sup><br>(1.224)|4.850<sup>~~***~~</sup><br>(1.195)|6.922<sup>~~***~~</sup><br>(1.162)|6.912<sup>~~***~~</sup><br>(1.191)|5.979<sup>~~***~~</sup><br>(1.11)|5.282<sup>~~***~~</sup><br>(1.132)|7.355<sup>~~***~~</sup><br>(1.001)|7.439<sup>~~***~~</sup><br>(1.035)|
|Control of corruptioni,t|0.130<sup>~~*~~</sup><br>(0.067)|0.089<br>(0.067)|0.180<sup>~~***~~</sup><br>(0.064)|0.186<sup>~~***~~</sup><br>(0.065)|0.110<br>(0.082)|0.063<br>(0.084)|0.160<sup>~~***~~</sup><br>(0.079)|0.175<sup>~~**~~</sup><br>(0.080)|
|Years country has had democratic or non-<br>democratic systemi,t|0.432<sup>***</sup><br>(0.105)||||0.382<sup>***</sup><br>(0.118)||||
|<br>Years<br>country<br>has<br>had<br>democratic<br>systemi,t||0.607<sup>~~***~~</sup><br>(0.110)||||0.569<sup>~~***~~</sup><br>(0.132)|||
|Years country has had non-democratic<br>systemi,t||-0.148<br>(0.121)||||-0.210<br>(0.139)|||
|Years of executive in officei,t|-0.456<sup>***</sup><br>(0.130)||||-0.470<sup>***</sup><br>(0.147)||||
|Years<br>of<br>executive<br>in<br>office<br>in<br>democracyi,t|||0.006<br>(0.167)<br>||||0.022<br>(0.200)<br>||
|Years of executive in office in<br>non-democracyi,t|||-0.296<sup>~~**~~</sup><br>(0.138)||||-0.401<sup>~~***~~</sup><br>(0.143)||
|Regime change from non-democracy to<br>democracyi,t||||-13.776<sup>***</sup><br>(3.496)||||-11.203<br>(7.628)|
|Regime change from democracy to non-<br>democracyi,t||||-2.893<br>(4.731)||||-2.841<br>(5.437)|
|<br>Constant|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|R<sup>~~2~~</sup>within|0.647|0.650|0.642|0.645|0.610|0.614|0.605|0.606|
|R<sup>~~2~~</sup>overall|0.549|0.559|0.552|0.531|0.534|0.546|0.537|0.510|
|Time dummies|Yes|Yes|Yes|Yes|Yes|Yes|Yes|Yes|
|Observations|1,062|1,062|1,062|1,064|947|947|947|948|
|Notes: *<br>=<br>significant<br>at<br>10|<br>%;<br>**|=<br>significant|at<br>5<br>%;|***<br>=<br>significan|t<br>at<br>1|%;<br>robust<br>st|andard<br>errors|in<br>parentheses.|

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