| Dependent Variable: Bilateral Trade | |
VARIABLES | OLS | PPMLHDFE |
Bilateral distance | −1.210*** (0.0476) | −1.107*** (0.0733) |
Common border | 0.447*** (0.156) | 0.457*** (0.147) |
Common official language | 0.786*** (0.0806) | 0.282** (0.116) |
Common colonizer | 0.613*** (0.114) | −0.299 (0.342) |
Common currency | 0.728*** (0.162) | 1.342*** (0.144) |
Common religion | 0.584*** (0.105) | 1.522*** (0.227) |
Importer landlocked | −3.894*** (0.317) | 11.74*** (0.758) |
CEDEAO | 1.151*** (0.141) | 0.589** (0.261) |
Observations | 31,974 | 31,116 |
R-squared | 0.823 | 0.991 |
Exporter fixed effects | Yes | Yes |
Importer fixed effects | Yes | Yes |