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Argentina
Australia
Austria-Hungary
Belgium
Brazil
Bulgaria
Canada
Chile
China
Colombia
-
#
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Denmark
France
Germany
Greece
Italy
Japan
Mexico
Netherlands
New Zealand
Norway
0.
Peru
Portugal
Russia
Spain
Sweden
Switzerland
Thailand
Turkey
United Kingdom
Venezuela
'
( =
1870-1879
Netherlands
Australia
Belgium
Germany
United Kingdom
US
New Zealand
France
Canada
Denmark
Brazil
Sweden
Italy
Russia
Switzerland
Argentina
Portugal
Spain
China
Mexico
Japan
Austria-Hungary
Weighted
0.23
0.25
0.27
0.28
0.28
0.28
0.28
0.29
0.31
0.32
0.32
0.33
0.33
0.33
0.33
0.35
0.36
0.38
0.41
0.45
0.52
---
Unweighted
0.35
0.29
0.36
0.33
0.31
0.42
0.35
0.36
0.47
0.41
0.43
0.41
0.44
0.47
0.36
0.34
0.50
0.45
0.55
0.45
0.52
0.47
Partner-Years
75
5
80
77
94
85
6
84
10
53
5
75
68
11
3
3
7
5
7
2
3
4
1890-1899
Switzerland
Netherlands
Australia
Brazil
Belgium
United Kingdom
New Zealand
US
Germany
Denmark
France
Sweden
Canada
Argentina
Russia
Spain
Mexico
Portugal
Italy
Japan
China
Thailand
Weighted
0.13
0.23
0.25
0.27
0.28
0.29
0.29
0.30
0.30
0.31
0.31
0.32
0.32
0.33
0.34
0.34
0.36
0.38
0.38
0.43
0.44
0.53
Unweighted
0.38
0.38
0.48
0.38
0.38
0.32
0.47
0.40
0.34
0.42
0.39
0.39
0.50
0.41
0.47
0.47
0.48
0.46
0.45
0.52
0.53
0.53
Partner-Years
7
88
25
8
100
104
13
97
100
71
101
67
22
10
13
14
5
12
76
83
9
1
1880-1889
Netherlands
Australia
Belgium
United Kingdom
Germany
US
New Zealand
France
Canada
Denmark
Sweden
Italy
Japan
Weighted
0.22
0.25
0.26
0.27
0.28
0.28
0.28
0.30
0.31
0.32
0.32
0.35
0.45
Un-weighted
0.35
0.43
0.36
0.31
0.33
0.40
0.35
0.37
0.48
0.41
0.40
0.43
0.53
Partner-Years
78
13
84
91
88
85
6
89
15
69
67
67
34
1900-1913
Netherlands
Australia
Austria-Hungary
Belgium
New Zealand
Germany
United Kingdom
Argentina
Denmark
Canada
Switzerland
US
Russia
France
Sweden
Norway
Chile
Brazil
Italy
Mexico
Spain
Turkey
Peru
Portugal
Japan
Venezuela
Bulgaria
China
Colombia
Greece
Thailand
Weighted
0.23
0.25
0.27
0.28
0.28
0.30
0.30
0.30
0.30
0.30
0.31
0.32
0.32
0.32
0.32
0.33
0.34
0.35
0.37
0.37
0.37
0.38
0.40
0.40
0.41
0.44
0.44
0.45
0.45
0.46
0.49
Unweighted
0.37
0.46
0.47
0.39
0.46
0.34
0.35
0.39
0.42
0.50
0.42
0.40
0.46
0.40
0.41
0.41
0.44
0.41
0.45
0.49
0.46
0.44
0.48
0.49
0.51
0.48
0.51
0.52
0.52
0.51
0.53
Partner-Years
180
44
38
243
24
249
258
154
135
61
166
258
35
243
149
103
132
150
204
97
196
13
36
34
149
86
10
28
18
12
11
Table reports averages of estimated trade costs by country. Weighted averages use the product of exports divided by the sum of the product of
exports over all observed trading partners as weights. Averages (weighted and unweighted) are taken for all available observations in each decade
of the sample. Missing values
0)
'
0 $
$ 5
" -).*" -)/*" -/-*
1870
Min.
Max.
Country
Trade Cost Partner Trade Cost Partner
Argentina (Arg)
0.33 FR
0.35 UK
Australia (Austl)
0.22 NZ
0.52 China
Austria-Hungary (AH)
0.36 Ital
0.59 Bel
Belgium (Bel)
0.26 Neth
0.59 AH
Brazil (Br)
0.32 UK
0.61 It
Canada(CA)
0.31 UK
0.70 China
China
0.41 UK
0.70 CA
Denmark (Dmk)
0.32 Swd
0.47 Bel
France (FR)
0.29 UK
0.53 China
Germany (Ger)
0.26 Neth
0.54 Po
Italy (It)
0.33 CH
0.61 Br
Japan (JP)
0.51 UK
0.52 US
Mexico (Mex)
0.44 US
0.46 UK
Netherlands (Neth)
0.26 Ger
0.48 US
New Zealand (NZ)
0.22 Austl
0.54 US
Portugal (Po)
0.35 UK
0.58 Bel
Russia (Ru)
0.32 Ger
0.62 China
Spain (SP)
0.38 UK
0.57 Ru
Sweden (Swd)
0.32 Dmk
0.54 US
Switzerland (CH)
0.30 FR
0.46 Bel
US
0.28 UK
0.56 Ru
United Kingdom (UK)
0.28 Neth.
0.51 JP
Numbers reported are derived from trade costs derived as described in the
text. The number of trading partners with obvserved data varies across
countries.
1910
Min.
Max.
Country
Trade Cost Partner Trade Cost Partner
Argentina
0.28 UK
0.48 NO
Australia
0.26 UK
0.53 Swd
Belgium
0.19 Neth
0.57 Ven (VE)
Brazil
0.30 UK
0.52 DMK
Canada
0.29 UK
0.58 VE
Chile
0.32 Ger
0.58 Swd
Denmark
0.30 Ger
0.63 JP
France
0.28 Bel
0.55 NZ
Germany
0.22 Neth
0.49 NZ
Italy
0.34 Ger
0.60 VE
Japan
0.41 UK
0.64 Mex
Mexico
0.37 US
0.64 JP
Netherlands
0.19 Bel
0.55 JP
New Zealand
0.26 UK
0.55 FR
Norway (NO)
0.32 Swd
0.60 JP
Spain
0.36 UK
0.61 JP
Sweden
0.32 Ger
0.64 VE
Switzerland
0.29 Ger
0.55 No
US
0.30 CA
0.50 Dmk
United Kingdom
0.26 Neth
0.44 VE
Venezuela (VE)
0.44 Neth
0.64 Swd
Numbers reported are derived from trade costs derived as described in the
text. The number of trading partners with obvserved data varies across
countries.
0/
1890
Min.
Max.
Country
Trade Cost Partner
Trade Cost Partner
Argentina
0.31 UK
0.50 Po
Australia
0.26 UK
0.71 Ru
Belgium
0.22 Neth
0.57 JP
Brazil
0.27 US
0.51 It
Canada
0.31 UK
0.60 It
China
0.43 UK
0.64 It
Denmark
0.28 Swd
0.63 JP
France
0.28 Bel
0.50 CA
Germany
0.23 Neth
0.49 JP
Italy
0.36 Ger
0.68 Mex
Japan
0.44 UK
0.76 Swd
Mexico
0.35 US
0.68 It
Netherlands
0.22 Bel
0.67 JP
New Zealand
0.28 UK
0.46 US
Portugal
0.36 SP
0.71 JP
Russia
0.31 Ger
0.71 Austl
Spain
0.33 FR
0.73 JP
Sweden
0.28 Dmk
0.76 JP
Thailand
0.53 UK
0.53 UK
US
0.27 Br
0.58 Dmk
UK
0.25 Neth
0.53 TH
Numbers reported are derived from trade costs derived as described
in the text. The number of trading partners with obvserved data
varies across countries.
'
I
;
#
Top 10 Drops
Change
Top 10 Increases
Change
Italy
Brazil
-0.19
New Zealand
Australia
0.10
Germany
Italy
-0.13
France
Italy
0.07
Netherlands
US
-0.12
United Kingdom
US
0.04
US
Japan
-0.11
France
United Kingdom
0.04
United Kingdom
Japan
-0.10
France
Switzerland
0.03
Belgium
Brazil
-0.10
Denmark
Sweden
0.02
US
Sweden
-0.07
United Kingdom
Brazil
0.02
Argentina
United Kingdom
-0.07
Italy
Switzerland
0.02
Belgium
Spain
-0.07
Italy
United Kingdom
0.02
Mexico
US
-0.07
Argentina
France
0.02
Notes: Change refers to the difference between the pair average of trade costs. The averages are taken at the pair level
between 1870 to 1879 and also 1910 to 1913. The difference between these two values is then presented. Pairs have
uneven numbers of observations in each period and many of the possible country pairs do not have data in one or both
periods. 53 country pairs out of the roughly 250 possible have at least one observation of trade costs in both periods and
represent the sample for this statistic.
I*
'
+
,
(1)
Regressors by category
POLICIES
ln (product of TARIFFS)
Both on GOLD STANDARD
Mild exchange rate volatility indicator
Extreme exchange rate volatility
Both in a MONETARY UNION
INFRASTRUCTURE
ln (product of kms. of WATERWAYS/AREA in sq. kms)
ln (product of kms. of RAILROAD TRACK/SQ. KM )
GEOGRAPHY
ln (DISTANCE) x indicator for 1870-1879
ln (DISTANCE) x indicator for 1880-1889
ln (DISTANCE) x indicator for 1880-1899
ln (DISTANCE) x indicator for 1900-1913
One country in pair is an ISLAND
Both in pair are an ISLAND
Countries share a BORDER
ln [prodcut of (1+ kms. of COASTLINE)/area in sq. kms]
Baseline
" -).*4-/-0
(2)
(3)
Ctry Fixed Effects Pair Fixed Effects
(4)
(5)
(6)
(7)
1870-1879
1880-1889
1890-1899
1900-1913
0.03
[0.01]***
-0.04
[0.01]***
-0.01
[0.01]
-0.02
[0.01]*
0.05
[0.02]**
0.03
[0.02]*
-0.03
[0.01]***
-0.02
[0.01]***
-0.03
[0.02]**
-0.01
[0.07]
0.04
[0.02]**
-0.04
[0.01]***
-0.01
[0.01]
-0.02
[0.01]*
---
-0.01
[0.03]
-0.04
[0.01]**
0.002
[0.01]
0.01
[0.03]
-0.11
[0.07]
0.02
[0.04]
0.02
[0.04]
-0.01
[0.01]
0.002
[0.01]
0.13
[0.06]**
0.02
[0.02]
-0.01
[0.02]
0.01
[0.01]
0.05
[0.03]
0.17
[0.04]***
-0.002
[0.01]
-0.07
[0.01]***
-0.004
[0.01]
-0.03
[0.01]**
0.08
[0.02]***
-0.23
[0.51]
-0.004
[0.002]**
-0.10
[0.46]
-0.02
[0.01]***
---
-1.20
[0.78]
-0.01
[0.004]***
0.39
[0.80]
-0.03
[0.01]*
-0.04
[0.56]
-0.01
[0.002]***
-0.80
[0.65]
-0.01
[0.004]***
0.11
[0.02]***
0.10
[0.02]***
0.10
[0.02]***
0.09
[0.02]***
-0.03
[0.04]
-0.07
[0.07]
-0.16
[0.05]***
0.39
[0.17]**
0.21
[0.07]***
0.19
[0.04]***
0.12
[0.03]***
0.05
[0.03]*
-0.36
[0.13]***
-0.70
[0.28]**
-0.16
[0.05]***
-0.25
[0.10]**
---
---
---
---
0.01
[0.04]
---
---
---
---
---
0.14
[0.04]***
---
0.08
[0.02]***
---
---
---
---
---
-0.33
[0.06]***
-0.50
[0.06]***
-0.23
[0.09]**
0.18
[0.17]
-0.04
[0.11]
-0.04
[0.18]
-0.14
[0.10]
0.23
[0.21]
INSTITUTIONS & CULTURE
Both in pair had or have a common COLONIZER
-0.003
[0.002]*
---
-------
-0.04
[0.05]
-0.08
[0.09]
-0.18
[0.06]***
0.41
[0.19]**
0.10
[0.02]***
-0.04
[0.04]
-0.07
[0.07]
-0.11
[0.04]***
0.31
[0.19]*
0.33
0.42
----0.56
0.38
0.42
[0.11]***
[0.10]***
[0.10]***
[0.08]***
[0.10]***
Both in pair share a COMMON LANGUAGE
-0.22
-0.28
---0.08
-0.59
-0.35
-0.27
[0.03]***
[0.08]***
[0.09]
[0.10]***
[0.08]***
[0.03]***
One in pair was a COLONY of the other prior to 1870
0.02
0.19
---0.10
----0.10
[0.09]
[0.08]**
[0.08]
[0.08]
Both in the BRITISH EMPIRE or UK and a British Colony
-0.30
-0.26
--0.13
-0.04
-0.20
-0.33
[0.11]***
[0.09]***
[0.07]*
[0.12]
[0.10]**
[0.10]***
Constant
-1.59
---0.49
0.00
-1.44
-1.18
[0.20]***
[0.35]
[0.00]
[0.22]***
[0.16]***
Observations
1744
1744
1744
175
244
337
988
Country-Pair Fixed Effects
no
no
yes
no
no
no
no
Country Fixed Effects
no
yes
no
no
no
no
no
R-Squared
0.37
0.99
0.14
0.73
0.54
0.5
0.32
Notes: Dependent variable is the natural logarithm of trade costs. Year indicators are included but not reported. Estimation is by "random effects" or OLS with heteroscedasticity
and serial correlation robust standard errors. Column 3 uses country pair fixed effects. See the text for descriptions of the variables.* significant at the 10% level; **significant at
the 5% level; *** significant at the 1% level.
I-
'
>
=
(1)
Regressors by category
POLICIES
ln (product of TARIFFS)
Both on GOLD STANDARD
Mild exchange rate volatility indicator
Extreme exchange rate volatility
Both in a MONETARY UNION
INFRASTRUCTURE
ln (product of kms. of WATERWAYS/AREA in sq. kms)
ln (product of kms. of RAILROAD TRACK/SQ. KM )
Distance < 480 km.
GEOGRAPHY
480 km. < distance < 5,380 km.
distance > 5,380 km.
One country in pair is an ISLAND
Both in pair are an ISLAND
Countries share a BORDER
ln [prodcut of (1+ kms. of COASTLINE)/area in sq. kms]
,
Distance Spline
(2)
Ctry Fixed Effects
Distance Spline
0.03
[0.01]***
-0.05
[0.01]***
-0.01
[0.01]
-0.02
[0.01]
0.05
[0.03]*
0.03
[0.02]*
-0.03
[0.01]***
-0.02
[0.01]**
-0.03
[0.02]*
-0.08
[0.06]
-0.16
[0.47]
-0.005
[0.00]***
-0.12
[0.45]
-0.01
[0.01]**
0.08
[0.03]***
0.09
[0.02]***
0.09
[0.02]***
-0.03
[0.04]
-0.06
[0.07]
-0.15
[0.05]***
0.39
[0.17]**
0.06
[0.04]*
0.08
[0.03]**
0.07
[0.03]**
0.33
[0.14]**
0.70
[0.27]***
-0.13
[0.05]**
-0.29
[0.12]**
" -).*4-/-0
Alternative Functional Forms (3)-(5)
Regressors by category
POLICIES
ln (product of TARIFFS)
Both on GOLD STANDARD
Mild exchange rate volatility indicator
Extreme exchange rate volatility
Both in a MONETARY UNION
INFRASTRUCTURE
ln (product of kms. of WATERWAYS/AREA in sq. kms)
ln (product of kms. of RAILROAD TRACK/SQ. KM )
GEOGRAPHY
ln (DISTANCE) x indicator for 1870-1879
ln (DISTANCE) x indicator for 1880-1889
ln (DISTANCE) x indicator for 1880-1899
ln (DISTANCE) x indicator for 1900-1913
One country in pair is an ISLAND
Both in pair are an ISLAND
Countries share a BORDER
ln [prodcut of (1+ kms. of COASTLINE)/area in sq. kms]
INSTITUTIONS & CULTURE
Both in pair had or have a common COLONIZER
(3)
Dep. Var
(4)
Dep. Var
Level Trade Costs Level Trade Costs
(5)
Dep. Var
Tariff Equivalent
0.01
[0.00]**
-0.02
[0.004]***
-0.003
[0.003]
-0.01
[0.005]
0.003
[0.01]
0.01
[0.01]
-0.02
[0.01]***
-0.01
[0.002]*
-0.01
[0.01]
-0.02
[0.02]
0.03
[0.02]
-0.06
[0.02]***
-0.01
[0.01]
-0.01
[0.02]
-0.03
[0.05]
-0.07
[0.18]
-0.002
[0.0008]**
0.05
[0.13]
-0.01
[0.00]**
-0.28
[0.63]
-0.01
[0.003]**
0.05
[0.01]***
0.05
[0.01]***
0.05
[0.01]***
0.04
[0.01]***
-0.01
[0.02]
-0.03
[0.03]
-0.06
[0.02]***
0.19
[0.07]**
0.07
[0.02]***
0.07
[0.01]***
0.05
[0.01]***
0.02
[0.01]
0.27
[0.06]***
0.54
[0.12]***
-0.06
[0.02]***
-0.12
[0.04]***
0.21
[0.03]***
0.19
[0.03]***
0.19
[0.03]***
0.16
[0.03]***
-0.49
[0.07]
-0.12
[0.13]
-0.14
[0.07]**
0.83
[0.33]**
INSTITUTIONS & CULTURE
0.28
0.29
Both in pair had or have a common COLONIZER
0.12
0.15
0.35
[0.13]**
[0.11]***
[0.05]**
[0.05]***
[0.24]
Both in pair share a COMMON LANGUAGE
-0.18
-0.17
Both in pair share a COMMON LANGUAGE
-0.06
-0.11
-0.13
[0.07]**
[0.07]**
[0.01]***
[0.03]***
[0.06]**
One in pair was a COLONY of the other prior to 1870
-0.03
0.09
One in pair was a COLONY of the other prior to 1870
-0.02
0.08
-0.13
[0.11]
[0.08]
[0.04]
[0.04]**
[0.14]
Both in the BRITISH EMPIRE or UK and a British Colony
-0.28
-0.20
Both in the BRITISH EMPIRE or UK and a British Colony
-0.11
-0.09
-0.33
[0.11]**
[0.09]**
[0.04]**
[0.03]***
[0.16]**
Constant
-1.44
--Constant
0.09
---0.49
[0.17]***
[0.08]
[0.30]*
Observations
1744
1744
1744
1744
1744
Country-Pair Fixed Effects
no
no
no
no
no
Country Fixed Effects
no
no
no
yes
yes
R-Squared
0.38
0.99
0.34
0.99
0.23
Notes: Dependent variable is the natural logarithm of trade costs cols (1)-(2). Dependent variable is listed above for cols. (3)-(5). Year indicators are included but not reported. Estimation is by "random effects" or OLS with
heteroscedasticity and serial correlation robust standard errors. Column 2 and 4 use country pair fixed effects. See the text for descriptions of the variables.* significant at the 10% level; **significant at the 5% level; ***
significant at the 1% level.
I(
'
. A
" -).*4-/-0
(1)
(2)
Structural Coeff.
Regressors by category
POLICIES
ln (product of TARIFFS)
Both on GOLD STANDARD
Mild exchange rate volatility indicator
Extreme exchange rate volatility
Both in a MONETARY UNION
INFRASTRUCTURE
ln (product of kms. of WATERWAYS/AREA in sq. kms)
ln (product of kms. of RAILROAD TRACK/SQ. KM )
GEOGRAPHY
ln (DISTANCE) x indicator for 1870-1879
ln (DISTANCE) x indicator for 1880-1889
ln (DISTANCE) x indicator for 1880-1899
ln (DISTANCE) x indicator for 1900-1913
One country in pair is an ISLAND
Both in pair are an ISLAND
Countries share a BORDER
ln [prodcut of (1+ kms. of COASTLINE)/area in sq. kms]
INSTITUTIONS & CULTURE
Both in pair had or have a common COLONIZER
Both in pair share a COMMON LANGUAGE
One in pair was a COLONY of the other prior to 1870
Both in the BRITISH EMPIRE or UK and a British Colony
ln (GDP-Exports) country i
ln (GDP-Exports) country j
(3)
Structural Coeff.
Baseline
rho = 11
Ctry Fixed Effects
rho = 11
0.46
[0.39]
1.68
[0.44]***
0.21
[0.21]
0.29
[0.47]
-0.35
[0.65]
0.02
-0.37
[0.25]
0.46
[0.21]**
0.06
[0.10]
0.04
[0.27]
0.62
[0.81]
-0.02
3.42
[7.37]
0.03
[0.09]
0.08
0.01
0.01
-0.02
0.17
0.002
-1.49
[0.56]***
-1.51
[0.46]***
-1.50
[0.41]***
-1.15
[0.42]***
0.78
[0.70]
1.69
[1.39]
1.00
[0.86]
-0.82
[3.38]
-0.07
-9.26
[1.94]***
4.06
[1.38]***
-2.37
[1.54]
3.61
[1.23]***
1.79
[0.22]***
1.78
[0.24]***
-0.46
-0.08
-0.08
-0.06
0.04
0.08
0.05
-0.04
0.20
-0.12
0.18
-----
0.02
0.003
0.002
0.03
-0.35
[4.54]
-0.17
[0.44]
-0.02
-2.06
[0.95]**
-2.09
[0.46]***
-1.53
[0.47]***
-0.53
[0.64]
-0.06
[0.48]
---
-0.10
-0.01
-0.10
-0.08
-0.03
-0.003
1.89
[0.55]***
4.74
[0.86]***
0.09
-16.13
[1.35]***
8.83
[1.26]***
-8.13
[1.24]***
-0.27
[1.80]
1.82
[1.05]*
-3.58
[1.48]**
-0.81
0.24
0.44
-0.41
-0.01
-----
Decadal
Ctry Fixed Effects
Structural Coeff.
-0.45
[0.19]**
0.41
[0.21]**
0.08
[0.09]
0.02
[0.24]
0.62
[0.80]
-0.02
-0.14
[4.54]
0.09
[0.37]
-2.17
[0.92]**
-2.13
[0.47]***
-1.57
[0.47]***
-0.56
[0.63]
0.01
[0.48]
---
rho = 11
0.02
0.004
0.001
0.03
-0.01
0.005
-0.11
-0.11
-0.08
-0.03
0.001
1.90
[0.55]***
5.06
[0.85]***
0.10
-16.10
[1.33]***
8.87
[1.25]***
-8.15
[1.22]***
0.00005
[1.76]
3.63
[0.92]***
-1.56
[0.73]**
-0.81
0.25
0.44
-0.41
0
-----
Observations
1483
1483
1483
Country-Pair Fixed Effects
no
no
no
Country Fixed Effects
no
yes
yes
R-Squared
0.68
0.98
0.98
Notes: Dependent variable is the natural logarithm of the product of real exports. Year indicators are included but not reported. Estimation is by OLS with heteroscedasticity
and serial correlation robust standard errors. Column 2 uses country pair fixed effects. Column 3 uses country fixed effects interacted with indictaors for each "decade"
between 1870 and 1913 (the last "decade" includes 1900-1913). See the text for descriptions of the variables.* significant at the 10% level; **significant at the 5% level; ***
significant at the 1% level.
I0
;
0 A '
1 87 5
1 88 0
5 ,
" -).*4-/-0 2-/-0T-**3
108
107
106
105
104
103
102
101
100
99
II
1 91 0
1 90 5
1 90 0
1 89 5
1 89 0
1 88 5
1 87 0
98
;
I 85
"8
# "-).*4-/-0 2-/-0T-**3
115
110
105
100
Core
Periphery
I+
1 91 0
1 90 5
1 90 0
1 89 5
1 89 0
1 88 5
1 88 0
1 87 5
1 87 0
95
1 89 5
North
South
I>
1 91 0
1 90 5
+ =
1 90 0
1 89 0
1 88 5
1 88 0
1 87 5
1 87 0
;
, 85
115
110
105
100
95
;
> =
6C
, 85
" -).*4-/-0 2-/-0T-**3
125
120
115
110
105
100
Asia
I.
Oceania
1 91 0
1 90 5
1 90 0
1 89 5
1 89 0
1 88 5
1 88 0
1 87 5
1 87 0
95
;
. 8
#
5 ,
" -).*4-/-0 2-/-0T-**3
120
115
110
105
100
95
Core
I)
Periphery
1 91 0
1 90 5
1 90 0
1 89 5
1 89 0
1 88 5
1 88 0
1 87 5
1 87 0
90
;
) =
5 ,
" -).*4-/-0 2-/-0T-**3
115
110
105
100
I/
1 91 0
South
1 90 5
1 89 5
North
1 90 0
1 89 0
1 88 5
1 88 0
1 87 5
1 87 0
95
;
/ =
1 87 0
1 87 5
6C
5 ,
" -).*4-/-0 2-/-0T-**3
130
125
120
115
110
105
100
95
90
85
80
75
70
Asia
+*
Oceania
1 91 0
1 90 5
1 90 0
1 89 5
1 89 0
1 88 5
1 88 0
65