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Acemoglu et al. (2001) Property Rights Average Expropriation Risk 1985-95 Log of Settler Mortality 2 4 6 8 4 6 8 10 AGO ARG AUS BFA BGD BHS BOL BRA CAN CHL CIV CMR COG COL CRI DOM DZA ECU EGY ETH GAB GHA GIN GMB GTM GUY HKG HND HTI IDN IND JAM KEN LKA MAR MDG MEX MLI MLT MYS NER NGA NIC NZL PAK PAN PER PRY SDN SEN SGP SLE SLV TGO TTO TUN TZA UGA URY USA VEN VNM ZAF ZAR OLS regression: log y i = μ + α R i + X i γ + ε i where y i is income per capita in country i , R i is the protection against ex- propriation measure, X i is vector of other co-variates, and i is a random
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Unformatted text preview: error term cross-sectional data - no t subscript R i measured on a scale of 1 to 10 (10 indicates lowest risk of expro-priation) • institutional measure R i strongly correlated with income per capita- the effect remains if regional dummies and measures of geography such as latitude included Problems Development Economics, LSE Summer School 2007 66...
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