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Table 3.

Responsiveness of bilateral trade to environment- related measures.

TBT Environmental TBT TBT B14 TBT B15 TBT B21
TBT n.s. - n.s. n.s. n.s.
Specific TBT + + n.s. -
Importer fixed effects yes yes yes yes yes
Exporter- time fixed effects yes yes yes yes yes
Country-pair fixed effects yes yes yes yes yes
Tariffs yes yes yes yes yes

Notes: Gamma Pseudo Maximum Likelihood estimation of the gravity model in Eq. (2). The dependent variable is the value of bilateral trade (in level). The TBT-related explanatory variables are modeled as dummy variables. B14 and B15 consist, respectively, in authorization requirement and in registration requirement for importers for TBT reasons (including environmental protection); B21 are tolerance limits for residues of or contamination by certain substances. All specifications include a constant, importer, time, exporter-time, and country-pair fixed effects, tariff levels. “+” indicates a positive significant relationship, “-” indicates a negative significant relationship, “n.s.” stands for not significant.

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