Dependent variable is log income in 2000 ln y

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Unformatted text preview: e to the markets in the Indian Ocean and trans-Atlantic slave trades. The results are essentially identical if this distance is also included as an additional instrument. 162 QUARTERLY JOURNAL OF ECONOMICS TABLE IV ESTIMATES OF THE RELATIONSHIP BETWEEN SLAVE EXPORTS AND INCOME (1) (2) (3) (4) Second Stage. Dependent variable is log income in 2000, ln y ln(exports/area) −0.208∗∗∗ −0.201∗∗∗ −0.286∗ −0.248∗∗∗ (0.053) (0.047) (0.153) (0.071) [−0.51, −0.14] [−0.42, −0.13] [−∞, +∞] [−0.62, −0.12] Colonizer fixed No Yes Yes Yes effects Geography controls No No Yes Yes Restricted sample No No No Yes F -stat 15.4 4.32 1.73 2.17 Number of obs. 52 52 52 42 First Stage. Dependent variable is slave exports, ln(exports/area) Atlantic distance Indian distance Saharan distance Red Sea distance F -stat Colonizer fixed effects Geography controls Restricted sample Hausman test ( p-value) Sargan test ( p-value) −1.31∗∗∗ (0.357) −1.10∗∗∗ (0.380) −2.43∗∗∗ (0.823) −0.002 (0.710) 4.55 No −1.74∗∗∗ (0.425) −1.43∗∗∗ (0.531)...
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This document was uploaded on 02/26/2014 for the course ECON 541 at The University of British Columbia.

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