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Table 5 Rational Expectations island model: OLS in first differences

From: Do carrier expectations indicate industry structure in container shipping? An econometric analysis

SeriesConstantGrowth Rate Market Level Import VolumeGrowth Rate Total Import ValueReal Price Bunker FuelShocksBreusch – GodfreyAdj R-SquaredF-Statistic
Full Sample N = 72
 All Trades0.001 (0.18)0.534b (2.47)−0.151 (− 0.85)−0.005 (− 0.20)−0.002 (−.01)0.072 (Pr = 0.788)0.041.77
 ETP−0.0009 (− 0.11)1.341c (4.75)− 0.352 (− 1.49)0.017 (0.53)0.005 (0.21)0.200 (Pr = 0.655)0.113.41b
 WTA0.003 (0.37)0.361a (1.74)0.087 (0.38)0.005 (0.14)−0.031 (− 1.39)1.308 (Pr = 0.252)0.123.49a
Pre-Block Exemption (WTA, N = 38)
 WTA0.005 (0.47)−0.440 (− 1.06)− 0.897b (− 2.50)−0.036 (− 0.42)−0.070b (− 2.00)4.337 (Pr = 0.037)0.162.73b
Post-Block Exemption (WTA, N = 33)
 WTA0.004 (0.40)0.347 (1.48)0.522a (1.86)0.023 (0.69)0.016 (0.49)0.739 (Pr = 0.390)0.314.59b
  1. aSignificant at the 10% level, bsignificant at the 5% level, csignificant at the 1% level