Classification

Transportation

Tourism

Insurance

Finance

Others

DNT

2740.90*

67963.02***

612.21***

5270.86

510.63

(1447.01)

(15282.67)

(219.08)

(5426.38)

(656.16)

DT

−1291.26

−9851.25

−138.20

1104.24

−4.23

(1650.68)

(8374.00)

(232.11)

(2477.31)

(669.93)

DN

3089.50***

15362.67***

481.07***

3771.68*

2577.67***

(1170.07)

(4229.49)

(97.30)

(2214.63)

(598.89)

The other two policies

Yes

Yes

Yes

Yes

Yes

Gravity model factor

Yes

Yes

Yes

Yes

Yes

Sample number

805

805

805

805

805

R2

0.95

0.78

0.65

0.80

0.98

Prob > F

0.00

0.00

0.00

0.00

0.00