Empirically Analyzing the Impacts of U.S. Export Credit Programs on U.S. Agricultural Export Competitiveness



Table 2: Results of the Randon Effects (RE) Models

Variable

Description

Model I-More

than 180 days

Model II-180

days

LPRAT

Ratio of import prices
between the United
States and the Rest of the
world (ROW)_________

-0.28 (0.30)

-0.27 (0.30)

LEXRATE

Exchange rate between
importers and the United
States_____________________

-0.86 (0.19)***

-0.85 (0.19)***

LGDP

GDP of the importing
countries_________________

0.47 (0.20)**

0.45 (0.20)**

LDOMPRD

Domestic production of
Wheat in the importing
countries_________________

-0.31 (0.86)***

-0.31 (0.08)***

LPVC

Cost Saving of the
importing countries______

0.03 (0.031)**

0.025 (0.01)**

Davidson-Mackinnon
test of exogeneity_______

F(1,57)=2.42
p=0.12

F(1,57)=2.24
p=0.13

Wooldridge test for
serial correlation_________

F(1,6)=2.17
p=0.191

F(1,6)=2.07
p=0.199

Durbin-Wu-Hauman
test- Fixed effect model
vs random effects model

X2 (5) = 39.34
p=0.00***

χ2 (5)= 29.99
p=0.00***

Breusch and Pagan
Lagrangian Mutiplier
test for random effects

χ2 (1) = 23.06
p=0.00***

X 2 (1)= 22.86
p=0.00***

*** and ** indicate significance at the one and five percent level respectively. Numbers in parenthesis are
for the standard errors.

36



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