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Unformatted text preview: Number bank branches in rural unbanked locations per capita Cumulative land reform (1) -4.04** (1.83) -1.87** (0.79) Health and education spending Other Development spending Fraction legislators belonging to: Congress party Rural head count ratio (2) -4.12** (1.54) -1.75** (0.70) -10.97 (30.91) -40.84*** (12.39) (3) -3.77** (1.54) (4) -0.83 (1.08) -1.87** (0.68) -3.31 (28.40) -37.32** (13.37) 0.45 (0.28) Urban head count ratio (5) -1.05 (1.06) 0.41 (0.29) 23.52 (14.53) 6.31 (12.08) -13.07 (8.90) -11.62 (6.90) 6.15 (12.91) -14.81 (9.07) -15.11 (12.91) Janata party Hindu party Hard left Regional parties (6) -0.81 (0.91) 0.27 (0.30) 23.74 (14.80) 5.73 (11.89) Burgess & Pande (2003) Development Economics, LSE Summer School 2007 TABLE 10: BANK BRANCH EXPANSION AND POVERTY REDUCTION -- IV ESTIMATES WITH TIME VARYING CONTROLS 0.22 (3.14) 1.62 (3.18) 9.61 (8.36) 1.76 (3.72) -2.34 (4.60) YES YES YES YES YES YES Other controls YES YES YES YES YES YES Overidentification test p-value 0.99 0.99 0.98 0.99 Adjusted R-squared 0.78 0.79 0.81 0.92 0.91 0.91 Number observations 627 605 603 627 605 603 Standard errors clustered by state are reported in parenthesis. Table 4 notes, and Data Appendix provide variable description. Branch variables are normalized by 1961 population. Other controls are log state income, population density and log rural locations per capita, measured in 1961 and interacted (separately) with a (1961-2000), (1977-2000) and (1990-2000) trend. Instruments are number branches in 1961 per capita interacted with (i) a post-1976 dummy and a post-1976 time trend (ii) a post-1989 dummy and a post-1989 trend respectively. * indicates significance at 10%, ** significance 135 at 5% and *** significance at 1%. Credit and Microfinance State and year dummies ...
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This note was uploaded on 12/29/2011 for the course ECO 307 taught by Professor Dublin during the Spring '10 term at SUNY Stony Brook.

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