Variables

(1)

(2)

(3)

Fixed ER

0.134***

0.141***

0.126***

(0.0307)

(0.0304)

(0.0301)

Bilateral Trade Value * Fixed ER

0.00699**

(0.00338)

Bilateral Trade Value

−0.00425

(0.00354)

Import From Donor * Fixed ER

0.00604*

(0.00359)

Import From Donor

−0.00344

(0.00368)

Export To Donor * Fixed ER

0.00939***

(0.00360)

Export to Donor

−0.00407

(0.00360)

Chinn-Ito index

0.00204

0.00269

0.00165

(0.0105)

(0.0105)

(0.0105)

GDP per capita

−0.123***

−0.124***

−0.122***

(0.0294)

(0.0294)

(0.0294)

Population

1.679***

1.675***

1.677***

(0.117)

(0.117)

(0.117)

Democracy

0.158***

0.158***

0.158***

(0.0338)

(0.0338)

(0.0338)

Political Rights

0.143***

0.144***

0.142***

(0.0311)

(0.0311)

(0.0310)

Constant

13.65***

13.67***

13.64***

(1.291)

(1.291)

(1.291)

Year Fixed Effects

Y

Y

Y

Donor-Recipient Pair Fixed Effects

Y

Y

Y

Observations

43,461

43,461

43,461

R-squared

0.722

0.722

0.722