Motorist's Response to an Increase in Traffic Fines

Table 5

Effect of a raise in fines on the number of fines for speeding on the motorway, detected by police officers; young drivers only.

	Coefficient	𝑡-Statistic
Constant	12.586	0.422
Fine amount	0.206	1.025
Unemployment	−0.106*	−1.749
GDP	−0.919**	−4.301
Population	0.563	0.422
Yearly trend	−0.005	−0.295
Season^a
Summer	−0.009	−0.699
Autumn	−0.030**	−2.205
Winter	−0.021	−1.394
Truck, bus, or trailer	−0.553**	−9.747
Gender^b
Female	−0.366**	−6.714
Unknown	−0.451**	−33.547
Less restrictive fining policy	−0.015	−0.504
Strike^c
Dec 2007	−0.055	−1.289
Jan 2008	−0.110**	−2.181
Feb 2008	−0.051	−1.089
Mar 2008	−0.027	−0.610
+15 location dummies^d
+36 dummies for the number of kilometers with which the speed limit was exceeded^d	1.038	0.232
Number of observations	14,511
Adjusted 𝑅^2 1st stage	1.000
Adjusted generalized 𝑅^2 2nd stage^e	0.314

∗Significantly different from 0 at 90% level.
**Significantly different from 0 at 95% level.
^aSpring is the reference category.
^bMale is the reference category.
^cNo strike is the reference category.
^dThe results for all the dummy variables are available upon request.
^eSee Pesaran and Smith [23].