First-Stage Regression

Variables

Coefficient estimate

t

p > |t|

distance

−0.0002***

−3.06

0.002

port

0.188859***

3.40

0.001

Δlog GDP

0.4438*

1.81

0.072

Δsecond

−0.0119**

−2.57

0.011

Δthird

−0.0021

−0.51

0.608

Δprice

−0.0016**

−2.34

0.020

regional fix effect

Yes

Weak identification test (First stage F statistic)

12.722

Under identification test (P-value)

0.0000

Minimum eigenvalue statistic

13.8162

Observations

285

10% maximal IV size: 19.93; 15% maximal IV size: 11.59