THE ANDEAN PRICE BAND SYSTEM: EFFECTS ON PRICES, PROTECTION AND PRODUCER WELFARE



17

Table 1. (continued)

Product

Country

Summary Statistics

Entire Pd.1
(1)

Pre-APBS
(2)

APBS
(3)

CV apbs-
CV
pre-apbs
(4)

t-values3
(5)

F-Values3
(6)

Maize

Colombia

Average

Standard Deviation

Coefficient of Variation

119,402.16

6,459.52

5.41%

122,582.32

4,46l8.55

3.65%

114,183.22

5,267.07

4.61%

0.97%

7.179***

1.684ns

Ecuador

Average

Standard Deviation

Coefficient of Variation

219,764.08

17,648.99

8.03%

214,750.64

18,563.22

8.64%

227,056.37

10,210.28

4.50%

-4.15%

3.589*

1.777*

Rice

Venezuela

Average

Standard Deviation

Coefficient of Variation

14,255.78

1,426.10

10.00%

15,610.20

1,224.37

7.84%

12,285.72

1,412.13

11.49%

3.65%

__***

10.790

1.260ns

Colombia

Average

Standard Deviation

Coefficient of Variation

84,621.92

5,895.24

6.97%

88,966.43

4,944.30

5.56%

76,677.68

1,985.29

2.59%

-2.97%

__***

10.556

_ _ — ⅛ ⅛

50.811

Ecuador

Average

Standard Deviation

Coefficient of Variation

117,558.91

9,819.12

8.35%

121,352.18

7,804.62

6.43%

112,041,41

6,258.53

5.59%

-0.85%

_ _ ***

4.703

1.582ns

Venezuela

Average

Standard Deviation

Coefficient of Variation

7,713.93

708.50

9.18%

8,181.77

463.26

5.66%

7,033.44

553.91

7.88%

2.21

____***

5.575

_ _ _ _ ***

5.393

1 Periods: Entire (January 1990-December 1998), pre-APBS (January 1990 - April 1995) and APBS (May 1995 - December 1998) periods. 2Averages are
calculated based on real prices and are in LCU/MT. The standard deviations are calculated based on the residuals of a time trend-seasonal linear regression. The
coefficient of variation is the ratio of the standard deviation of residuals and average prices. 3The t and F values correspond to the tests of mean and variance
equality, respectively. Further explanation in the text.
***significant at the 1% level; "significant at the 5% level; *significant at the 10% level; ns, not
significant.



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