File2-page70 - Base Sample(5 Base Sample(6 0.52(0.06...

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Unformatted text preview: Base Sample (5) Base Sample (6) 0.52 (0.06) 0.47 (0.06) 0.43 (0.05) 0.47 (0.06) 0.41 (0.06) 0.89 (0.49) Latitude Base Sample (8) Dep. Var. is log output per worker in 1988 Dependent Variable is log GDP per capita in 1995 Average Protection Against 0.54 Expropriation Risk, 1985-1995 (0.04) Whole World (7) 0.37 (0.51) 1.60 (0.70) 0.92 (0.63) Asia Dummy -0.62 (0.19) -1.00 (0.15) -0.90 (0.17) "Other" Continent Dummy -0.25 (0.20) 0.46 (0.06) -0.60 (0.23) Africa Dummy 0.45 (0.04) Acemoglu et al. (2001) Development Economics, LSE Summer School 2007 Whole World (1) Table 2 OLS Regressions Base Whole Whole Sample World World (2) (3) (4) -0.04 (0.32) 0.62 0.54 0.63 0.73 0.56 0.69 0.55 0.49 N 110 64 110 110 64 64 108 61 67 Dependent Variable: columns 1-8, log GDP per capita (PPP basis) in 1995, current prices, (from the World Bank's World Development Indicators 1999); columns 9-10, log output per worker in 1988 from Hall and Jones (1999). Average protection against expropriation risk is measured on a scale from 0 to 10, where a higher score means more protection against expropriation, averaged over 1985 to 1995, from Political Risk Services. Standard errors are in parentheses. In regressions including dummies for the anti-expropriation index, the dummy for the first quartile --i.e., with highest risk of expropriation-- is the omitted category. In regressions with continent dummies, the dummy for America is omitted. See Appendix Table A1 for more detailed variable definitions and sources. Of the countries in our base sample, Hall and Jones do not report output per worker in the Bahamas, Ethiopia, and Vietnam. Property Rights R-Squared ...
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