Table 10.

Effects on sector structure, using CO₂ index instead of Kyoto

Dependent variable	Exports (separate)	Imports (separate)	Exports (joint)	Imports (joint)	Exports-Imports
Equation number	(9)	(10)	(11a)	(11b)	(12)
ln(income)	0.090***	0.037***	− 0.073***	0.061***	− 0.105***
	(0.016)	(0.013)	(0.013)	(0.013)	(0.010)
ln(income)2	− 0.001	− 0.005*	-	-	-
	(0.004)	(0.003)
Rents coal	0.042***	0.013*	− 0.015*	0.001	− 0.025***
	(0.010)	(0.008)	(0.009)	(0.009)	(0.007)
Rents oil	− 0.004	− 0.005*	− 0.017***	0.013***	− 0.025***
	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)
Rents gas	0.004	0.002	0.007**	− 0.012***	0.013***
	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)
Trade	0.124***	0.068*	0.143***	− 0.176***	0.267***
	(0.042)	(0.036)	(0.036)	(0.036)	(0.027)
CO2 index	− 0.075***	− 0.038	0.047*	− 0.035	0.109***
	(0.029)	(0.023)	(0.025)	(0.025)	(0.020)
Country FE	YES	YES	YES	YES	JOINT
Partner FE	NO	NO	YES	YES	JOINT
Year FE	YES	YES	YES	YES	NO
Weights	YES	YES	YES	YES	YES
N	525	525	18,309	18,309	8864
R2	0.916	0.906	0.912	0.912	0.473
R2 within	0.251	0.067	0.088	0.088	0.119

Note: Standard errors in parentheses. */**/***: significant at 10/5/1%. All regressions are weighted by trade flows