Table 7. Specialization and Trade Openness at the Country Level
|
(1) |
(2) |
(3) |
(4) |
(5) | |
|
Manuf. Trade/Output |
0.338** |
0.335** |
0.331* |
0.389** |
0.202** |
|
(0.084) |
(0.093) |
(0.127) |
(0.114) |
(0.052) | |
|
Herfindahl of exports |
0.473** | ||||
|
(0.133) | |||||
|
GDP per capita |
-0.106+ |
-0.100+ |
0.033 | ||
|
(0.057) |
(0.057) |
(0.068) | |||
|
Constant |
-2.030** |
-1.102* |
-2.042** |
-1.124* |
-1.675** |
|
(0.092) |
(0.457) |
(0.119) |
(0.467) |
(0.392) | |
|
Observations |
57 |
56 |
55 |
55 |
56 |
|
R2 |
0.215 |
0.261 |
— |
— |
0.558 |
|
Sample |
full |
full |
full |
full |
full |
|
Estimation |
OLS |
OLS |
IV |
IV |
OLS |
Notes: Robust standard errors in parentheses. + significant at 10%; * significant at 5%; ** significant at 1%. The
sample period is 1970-99. The dependent variable is the log Herfindahl index of manufacturing production shares
(averaged over the period). All regressors are in natural logs and are period averages. In the instrumental variables
regressions, the instrument for trade openness is the natural openness from Frankel and Romer (1999).
28
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