Table 2.
Responsiveness of wine production and trade to climate.
| Production | Trade | |
|---|---|---|
| Temperature | + | + |
| Temperature-squared | - | n.s. |
| Precipitation | - | n.s. |
| Precipitation-squared | + | n.s. |
| Macro-region fixed effects | yes | yes |
| Time fixed effects | yes | yes |
| Latitude | yes | yes |
| Longitude | yes | yes |
Notes: Pooled least square estimates of the model in Eq. (1). The dependent variables are in log. Regional annual temperature is in degrees Celsius and regional annual precipitation is in units of mm per year. “+” indicates a positive significant relationship, “-” indicates a negative significant relationship, “n.s.” stands for not significant; opposite signs of climate variables in level and squared indicate a non-linear relationship.
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