Table 3. Initial Extended Gravity Model Estimations Dependent variable: Total bilateral exports (in logs)

|Variable|1|2|3|4|5|Specifica<br>6|tion<br>7|8|9|10|11|12|13|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Log of exporter's GDP|1.326<br>(68.19)|1.396<br> (82.96)|1.202<br> (63.12)|1.193<br> (62.78)|1.199<br> (62.94)|1.203<br> (62.99)|1.199<br> (63.08)|1.193<br> (63.07)|1.195<br> (62.99)|1.203<br> (63.68)|1.193<br> (62.76)|1.201<br> (63.91)|1.198<br>(64.19)|
|Log of importer's GDP|1.007<br>(54.76)|1.049<br> (65.29)|0.915<br> (46.15)|0.906<br> (45.33)|0.909<br> (45.96)|0.897<br> (45.22)|0.909<br> (44.51)|0.909<br> (45.46)|0.909<br> (45.62)|0.92<br> (45.95)|0.909<br> (44.67)|0.905<br> (45.34)|0.950<br>(47.85)|
|Log of distance||-1.484<br>(-41.45)|-1.426<br> (-40.55)|-1.397<br> (-38.22)|-1.401<br> (-38.64)|-1.395<br> (-38.41)|-1.387<br> (-37.83)|-1.393<br> (-38.05)|-1.396<br> (-38.15)|-1.423<br> (-38.94)|-1.398<br> (-38.30)|-1.423<br> (-39.4)|-1.386<br>(-38.2)|
|Log of exporter's GDP<br>per capita|||0.535<br>(17.77)|0.551<br> (18.02)|0.326<br>(7.44)|0.285<br>(6.60)|0.514<br>(16.65)|0.539<br> (13.66)|0.47<br> (13.18)|0.328<br>(8.02)|0.551<br>(18.01)|0.337<br>(8.52)|0.565<br>(18.88)|
|Log of importer's GDP<br>per capita|||0.358<br>(11.22)|0.375<br> (11.73)|0.151<br>(3.39)|0.24<br>(5.87)|0.375<br>(11.72)|0.302<br>(7.51)|0.315<br>(8.44)|0.237<br>(5.42)|0.362<br>(10.53)|0.321<br>(8.41)|0.051<br>(1.26)|
|Log of exporter's average time<br>for all procedures|||||-0.559<br>(-7.93)|||||||||
|Log of importer's average time<br>for all procedures|||||-0.521<br>(-7.65)|||||||||
|Log of exporter's maximum time<br>for all procedures||||||-0.875<br>(-9.36)||||||||
|Log of importer's maximum time<br>for all procedures||||||-0.525<br>(-5.78)||||||||
|Log of exporter's MaxTime-AvgTime<br>difference|||||||-0.325<br>(-5.92)|||||||
|Log of importer's MaxTime-AvgTime<br>difference|||||||0.044<br>(0.56)|||||||
|Log of exporter's average time for<br>document processing||||||||-0.03<br>(-0.59)||||||
|Log of importer's average time for<br>document processing||||||||-0.155<br>(-3.21)||||||
|Log of exporter's total number of<br>documents required|||||||||-0.577<br>(-4.66)|||||
|Log of importer's total number of<br>documents required|||||||||-0.27<br>(-3.43)|||||
|Log of exporter's total number of<br>signatures required||||||||||-0.446<br>(-8.42)||||
|Log of importer's total number of<br>signatures required||||||||||-0.201<br>(-4.73)||||
|Log of importer's vessel<br>turnaround time|||||||||||-0.047<br>(-1.09)|||
|Exporter's percentage of containers<br>inspected||||||||||||-0.010<br>(-7.94)||
|Importer's percentage of containers<br>inspected||||||||||||-0.003<br>(-2.7)||
|Log of importer's total cost<br>of import-related procedures|||||||||||||-0.590<br>(-13.62)|
|Regional trade agreement<br>dummy variable||||0.23<br>(3.19)|0.202<br>(2.81)|0.193<br>(2.68)|0.236<br>(3.26)|0.218<br>(3.01)|0.225<br>(3.12)|0.195<br>(2.72)|0.23<br>(3.18)|0.232<br>(3.24)|0.282<br>(3.89)|
|_K_|3|4|6|7|9|9|9|9|9|9|8|9|8|
|_R_-squared|0.567|0.669|0.694|0.694|0.701|0.702|0.696|0.695|0.696|0.700|0.694|0.700|0.706|
|Adjusted_R_-squared|0.567|0.669|0.694|0.694|0.701|0.702|0.696|0.695|0.696|0.700|0.694|0.699|0.705|
|Observations|5149|5149|5149|5149|5149|5149|5149|5149|5149|5149|5149|5149|5149|
|_F_-statistic|3443.0|4032.2|2656.4|2207.6|1725.2|1722.4|1660.3|1666.6|1926.0|1677.8|1895.3|1720.6|2015.6|

Note: Dependent variable is total bilateral exports (in logs) in 2003 or latest year available. Figures in parentheses are _t_ -statistics (based on robust standard errors). Constant terms are not shown. Source: Authors' calculations.

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