Variables | Dependent variable | |||
Full sample | Subsample | |||
Ordinary trade balance | Processing trade balance | Ordinary trade balance | Processing trade balance | |
C | −0.300218 (−0.257770) | 2.538638 (4.051535***) | 3.644332 (2.304417**) | −1.260060 (−1.112290) |
LREER | −0.302212 (−1.597939) | −0.026982 (−0.265180) | −1.655933 (−8.720253***) | 0.661797 (4.865134***) |
LFD | 0.554739 (3.246520***) | −0.885465 (−9.632174***) | 1.120039 (2.955842***) | −0.547733 (−2.017904**) |
LDD | −0.044052 (−1.144149) | 0.072801 (3.514619***) | −0.345880 (−6.193919***) | 0.185136 (4.628226***) |
LFDI | 0.034450 (2.635452**) | 0.003461 (0.492178) | 0.021051 (1.404312) | 0.002868 (0.267066) |
R2 | 0.185787 | 0.567141 | 0.604039 | 0.343263 |
Adjust R2 | 0.162357 | 0.554685 | 0.583199 | 0.308698 |
D.W. statistic | 0.284133 | 0.581014 | 0.846577 | 0.803770 |