Variables Description Sources Expected Sign
Exportijnt Bilateral export values from Malaysia to trading partners Department of Statistics Malaysia (DOSM)
GDPit Monthly GDP for Malaysia obtained from average quarterly GDP International Monetary Fund (IMF) +
GDPjt Monthly GDP for trading partners obtained from average quarterly GDP Organisation for Economic Co-Operation and Development (OECD), International Monetary Fund (IMF) +
Distij Bilateral distance between Malaysia and trading partners Centre d’Etudes Prospectives et d'Inform’tions Internationales (CEPII) -
EXRijt Bilateral exchange rates for foreign currency per Ringgit Malaysia Federal Reserve Bank of St. Louis -
CLij Dummy for common language if Malaysia and the trading partner share a common language Our World in Data +
COVit Number of COVID-19 cases in Malaysia Our World in Data -
COVjt Number of COVID-19 cases in trading partner countries Our World in Data +
POLit Malaysia’s policy stringency index Oxford COVID-19 Government Response Tracker -
POLjt Trading partner’s policy stringency index Oxford COVID-19 Government Response Tracker +