Table 4.

Comparison of Armington model estimates in the pre– and post– COVID−19 epidemics periods.

Variable name	Pre				Post
	Model 5		Model 6		Model 7		Model 8
	Coef.	Z Value	Coef.	Z Value	Coef.	Z Value	Coef.	Z Value
cons.	−6.00***	−28.96	−5.88***	−27.77	−5.42***	−58.55	−5.14***	−49.80
X it	0.078	0.20	–	–	0.796***	7.72	–	–
X it−1	–	–	−0.08	−0.21	–	–	0.50***	4.31
N	221		208		143		130

^***, ^**, and ^* indicate significance at the level of 1%, 5% and 10%, respectively.