Appendix (continued)
| Variable | Exports (Model One) | Exports (Model Two) | ||
|---|---|---|---|---|
| Selection | Trade | Selection | Trade | |
| Migrant Stock | 0.4269***(0.0761) | 0.0871***(0.0213) | 0.4206***(0.0781) | 0.0975***(0.0225) |
| Zero Migrants | 1.1483***(0.2011) | -0.5003***(0.0644) | 1.1714***(0.2036) | -0.4805***(0.0627) |
| Foreign GDP | 2.0985***(0.2175) | 1.1976***(0.0723) | 2.0441***(0.2211) | 1.2134***(0.0757) |
| New Zealand GDP | -0.7151(1.2615) | 0.4716(0.4482) | -0.4889(1.3037) | 0.2399(0.4506) |
| World GDP | 3.1171***(0.8422) | -0.2805(0.2609) | 2.745***(0.9304) | -0.0895(0.2676) |
| Population | -0.5536(0.4688) | -0.9707***(0.1398) | -0.69(0.4814) | -0.6579***(0.1419) |
| Distance | -2.8711***(0.3392) | -3.2196***(0.0436) | -2.87***(0.3408) | -3.2148***(0.0447) |
| Non-English | -0.5685***(0.1358) | -1.287***(0.039) | -0.5397***(0.1348) | -0.4936***(0.037) |
| Real Exchange Rate | --- | --- | -0.2476***(0.0956) | 0.2947***(0.0275) |
| Average Migrant Stock | -0.1883***(0.0718) | -0.0032(0.0222) | -0.1869**(0.0734) | 0.0139(0.0237) |
| Average Foreign GDP | -0.9222***(0.209) | 0.0826(0.0756) | -0.8845***(0.2123) | -0.0322(0.0785) |
| Average Population | -0.3696(0.4594) | 0.6523***(0.1387) | -0.206(0.4707) | 0.1946(0.1411) |
| 1995 Dummy | -0.3966*(0.2075) | 0.252***(0.063) | -0.3552*(0.2074) | 0.2219***(0.0621) |
| Log Likelihood | -257.0576 | -3278.7860 | -256.5664 | -3271.179 |
| Observations | 1726 | 1540 | 1726 | 1540 |
| Countries | 90 | 90 | 90 | 90 |
Notes – For definitions of the variables refer to Table 3. A constant term and country specific effects are included in all regressions. Dependent variables are in 1995 New Zealand dollars. Three stars (***) indicates that the coefficient is significantly different from zero at the 1% significance level, two stars (**) indicates that it is significant at the 5% level, and one star (*) indicates that it is significant at the 10% level.
| Variable | Imports (Model One) | Imports (Model Two) | ||
|---|---|---|---|---|
| Selection | Trade | Selection | Trade | |
| Migrant Stock | -0.185***(0.0702) | 0.4348***(0.0321) | -0.1931***(0.0714) | 0.4518***(0.0331) |
| Zero Migrants | -0.4762***(0.1499) | -0.4628***(0.0984) | -0.479***(0.1497) | -0.4465***(0.1022) |
| Foreign GDP | 0.736***(0.2129) | 1.4569***(0.1004) | 0.7237***(0.2119) | 1.4099***(0.1038) |
| New Zealand GDP | 3.6932***(1.1558) | 2.1829***(0.6132) | 3.9276***(1.1739) | 2.1513***(0.6378) |
| World GDP | -2.6928***(0.7932) | -0.6653*(0.3398) | -2.883***(0.8074) | -0.4997(0.3527) |
| Population | -0.0702(0.4991) | -1.5854***(0.1657) | -0.2419(0.5341) | -1.532***(0.1998) |
| Distance | -0.3891**(0.1748) | -1.7056***(0.0535) | -0.374**(0.1754) | -1.8542***(0.0532) |
| Language | 1.462***(0.1031) | 0.0367(0.0508) | 1.4576***(0.1035) | -0.3919***(0.0493) |
| Real Exchange Rate | --- | --- | -0.1637(0.1569) | 0.1055***(0.0356) |
| Average Migrant Stock | 0.6995***(0.0726) | -0.0241(0.0335) | 0.7145***(0.0737) | -0.1471***(0.0342) |
| Average Foreign GDP | -0.4656**(0.2191) | -0.0822(0.102) | -0.4626**(0.2187) | -0.1131(0.1053) |
| Average Population | -0.0988(0.5014) | 1.1249***(0.166) | 0.082(0.5406) | 1.2223***(0.2018) |
| 1995 Dummy | 0.0572(0.1623) | 0.0171(0.0849) | 0.0694(0.1624) | 0.0026(0.0862) |
| Log Likelihood | -376.3119 | -3211.8510 | -376.1041 | -3210.7710 |
| Observations | 1726 | 1378 | 1726 | 1378 |
| Countries | 90 | 89 | 90 | 89 |
Notes – For definitions of the variables refer to Table 3. A constant term and country specific effects are included in all regressions. Dependent variables are in 1995 New Zealand dollars. Three stars (***) indicates that the coefficient is significantly different from zero at the 1% significance level, two stars (**) indicates that it is significant at the 5% level, and one star (*) indicates that it is significant at the 10% level.
