|
Table 3: Three Stage Least Squares Estimates of t |
ιe Effect of Export Tax Rebates | |||
|
PCompetitor= MAMS |
Pcompetitor = OMILDS | |||
|
Explanatory Variables_______ |
Estimated ______Coefficient |
_______T-Statistic |
Estimated ______Coefficient |
_______T-Statistic |
|
Equations 7.1 and 7.2 where dependent variable is PSantos4______________________________ | ||||
|
Constant_______ |
________-0.01 |
____________0.07 |
0.04 |
____________0.30 |
|
P Competitor__________ |
________0.92* |
___________13.29 |
0.95* |
____________8.88 |
|
Alpha_________ |
________0.42* |
____________7.24 |
0.52* |
____________6.71 |
|
Alpha1972-79 |
_______-0.50* |
____________3.43 |
-0.09 |
____________0.41 |
|
D1977____________ |
_________1.31* |
___________11.42 |
0.99* |
____________4.95 |
|
D1979____________ |
_______-0.35* |
____________4.34 |
-0.42* |
____________3.24 |
|
Relative Supply |
_______-0.45*** |
____________-1.93 |
-0.40 |
____________-1.09 |
|
Durbin-Watson |
____________2.14 |
_____________1.96 | ||
|
Adjusted R2 |
____________0.99 |
____________0.99 | ||
|
Equations 8.1 and 8.2 where dependent variable is PCompetitor____________________________ | ||||
|
Constant_______ |
________0.72* |
____________6.58 |
0.56* |
____________6.08 |
|
P Santos4_____________ |
________0.55* |
____________6.98 |
0.59* |
____________9.46 |
|
Alpha_________ |
________0.02 |
____________-0.19 |
-0.07 |
___________-0.76 |
|
Alpha1972-79 |
________0.31 |
_____________1.06 |
0.01 |
____________0.04 |
|
Relative Supply |
-1.62* |
____________-3.54 |
1.48* |
____________4.03 |
|
Durbin-Watson |
____________2.25 |
_____________1.91 | ||
|
Adjusted R2 |
____________0.83 |
____________0.87 | ||
|
Equations 9.1 and 9.2 where dependent variable is Alpha_______________________________ | ||||
|
Constant_______ |
0.72** |
____________2.03 |
0.61** |
____________2.37 |
|
P Santos4_____________ |
0.59* |
____________2.86 |
0.82* |
____________5.12 |
|
P Competitor__________ |
-1.04** |
____________-2.62 |
-1.31* |
___________-4.77 |
|
D1965-71___________ |
0.04 |
____________0.20 |
0.23 |
_____________1.40 |
|
D1972-79__________ |
0.08 |
____________0.30 |
0.30 |
_____________1.36 |
|
DAVISOS_________ |
0.23 |
_____________1.49 |
0.12 |
____________0.97 |
|
AR(1) |
0.83* |
____________7.02 |
0.84* |
____________7.62 |
|
Durbin-Watson |
____________2.03 |
_____________1.83 | ||
|
Adjusted R2 |
____________0.35 |
____________0.56 | ||
|
Equations 10.1 and 10.2 where dependent variable is Relative Supply | ||||
|
Constant_______ |
0.33* |
____________4.31 |
0.34* |
____________4.97 |
|
P Santos4_____________ |
0.25* |
____________2.87 |
0.33* |
____________4.03 |
|
P Competitor__________ |
-0.45* |
____________-3.93 |
-0.58* |
___________-5.42 |
|
Durbin-Watson |
____________2.36 |
____________2.08 | ||
|
Adjusted R2 |
____________0.13 |
____________-0.15 | ||
|
* ,**, and *** denotes significance at the 1%, 5% and 10% level, respectively.___________ | ||||
32
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