Gravity model of cocoa bean exports from Ecuador
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Abstract
This research applies a modified gravity model to exports of cocoa beans from Ecuador to the main importing countries. The purpose of the model is to determine the influence of economic and commercial internal and external variables on the commercial flow under analysis. Two panel data models were estimated using the random effects methodology. The research results establish that the estimated models are statistically significant; they are contrasted with theory and establish a high influence of international trade costs on the studied trade flow.
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