File2-page52 - Note : Numbers in parentheses are OLS...

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Media and Policy Table 8. Linking Distance, Information, and Capture Specification 1 2 3 2 nd stage a 1 st stage 2 nd stage Dependent variable Δ s j info j Δ s j Constant 2.30 (21.1) 0.03 (15.7) Info 65.9 *** (23.5) [23.6] 71.6 *** (18.0) [18.3] Distance to nearest newspaper outlet –0.060 ** (.034) Distance to nearest newspaper outlet (average) –0.308 *** (.070) Controls, including income Yes Yes Yes F-test of instruments b 11.8 {.000} 15.9 {.000} Hansen J-statistic c 0.004 {0.947} Number of schools 199 388 199 * Significant at the 5 percent level. *** Significant at the 1 percent level.
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Unformatted text preview: Note : Numbers in parentheses are OLS standard errors; numbers in brackets are bootstrapped standard errors. See appendix for definition of variables. a. First-stage regression is reported in table 7, column 2. b. The test statistic on the F-test of the joint significance of the instruments in the first-stage regression, with p-values in braces. c. The test statistic on the overidentification test of the instruments, with p-values in braces. Development Economics, LSE Summer School 2007 49...
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