Motorist's Response to an Increase in Traffic Fines

Table 4

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

	Coefficient	𝑡-Statistic
Constant	10.747	0.591
Fine amount	0.154	1.264
Unemployment	−0.021	−0.562
GDP	−0.717**	−5.536
Population	0.960	1.174
Yearly trend	−0.009	−0.863
Season^a
Summer	−0.012	−1.506
Autumn	−0.031**	−3.786
Winter	−0.026**	−2.902
Truck, bus, or trailer	−0.384**	−11.504
Gender^b
Female	−0.381**	−12.160
Unknown	−0.482**	−57.327
Age^c
>30 years, <50 years	0.128**	20.577
≥50 years, <70 years	−0.200**	−24.229
>70 years	−0.574**	−16.033
Unknown	−0.706**	−13.902
Less restrictive fining policy	−0.035*	−1.907
Strike^d
Dec 2007	−0.071**	−2.706
Jan 2008	−0.105**	−3.430
Feb 2008	−0.054*	−1.927
Mar 2008	−0.070**	−2.629
+15 location dummies^e
+36 dummies for the number of kilometers with which the speed limit was exceeded^e
Number of observations	42,450
Adjusted 𝑅^2 1st stage	1.000
Adjusted generalized 𝑅^2 2nd stage^f	0.307

∗Significantly different from 0 at 90% level.
**Significantly different from 0 at 95% level.
^aSpring is the reference category.
^bMale is the reference category.
^c ≤30 years is the reference category.
^dNo strike is the reference category.
^eThe results for all the dummy variables are available upon request.
^fSee Pesaran and Smith [23].