Note: t statistics are in parentheses. Estimation uses White's heteroskedasticity-consistent covariance matrix estimator. Multinomial PML Eaton et al., 2012
applying the Poisson command to the market share variable Xni/Xn, along with country-specific fixed effects. Data sources: Exports (dependent variable) are from
UNCTAD database and are in thousand US $. FTA_1 is a dummy variable that takes the value of 1 when countries i and j are members of the FTA in year t, zero
otherwise. FTA_2 is a dummy variable that takes the value of 1 when country i is a member of the FTA and j is not in year t, zero otherwise. FTA_3 is a dummy
variable that takes the value of 1 when country i is not a member of the FTA and j is a member in year t, zero otherwise.
⁎⁎⁎ denotes signinficance level at the 1%
⁎⁎⁎ p b 0.01.