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«Abstract We examine the effects of precolonial and colonial legacies on the current economic growth rates of ex-colonies. We find that precolonial ...»

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Table 1: DESCRIPTIVE STATISTICS OF KEY ECONOMIC VARIABLES OF EX-COLONIES. This table classifies the key variables into three categories and shows the average, standard error, maximum, and minimum values. Refer to the Appendix for the descriptions of the variables.

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Table 2: CORRELATION COEFFICIENTS OF PRECOLONIAL INDICATORS. AGRI, TECHNO, POPDEN1, STATE, BIOGEO, and IMMIGR stand for “data of agriculture,” “technology level,” “population density 1,” “state antiquity index AD 1950,” “biogeography,” and “immigrant ratio,” respectively. Refer to the Appendix for the description of each variable. The correlation coefficients are computed using 77 countries. The correlation coefficients between “log(IMMIGR)” and the other variables are estimated using ex-colonies, and 99, 74, 94, and 90 samples are used to compute the correlation coefficients between log(IMMIGR) and AGRI, TECHNO AD 1500, log(POPDEN1), and STATE, respectively.

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Table 3: MODEL ESTIMATION RESULTS. GDPR, SKULY, TECHNO, DURTN, INDEPY, and IMMIGR stand for “growth rate of GDP per capita,” “average schooling years per capita,” “technology level,” “colonial duration,” “independence year,” and “immigrant ratio,” respectively. Refer to the Appendix for the description of each variable. Model 7 uses “state antiquity index AD 1950” and “date of agriculture” as the instrumental variables. The F -statistic of the same model is from the 1st-stage LS model. The overidentification p-value is computed using Hansen’s (1982) J-test statistic. The statistics denoted by ∗∗∗, ∗∗, and ∗ mean that they are significant at the 1%, 5%, and 10% levels, respectively. The figures below the estimated coefficients are t-statistics estimated by the robust standard errors, except in the sixth model.

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Table 4: MODEL ESTIMATION RESULTS. GDPR, SKULR, TECHNO, DURTN, INDEPY, and IMMIGR stand for “growth rate of GDP per capita,” “primary school enrollment ratio,” “technology level,” “colonial duration,” “independence year,” and “immigrant ratio,” respectively. Refer to the Appendix for the description of each variable. Model 6 uses “state antiquity index AD 1950” and “date of agriculture” as the instrumental variables. The F -statistic of the same model is from the 1st-stage LS model. The overidentification p-value is computed using Hansen’s (1982) J-test statistic. The statistics denoted by ∗∗∗, ∗∗, and ∗ mean that they are significant at the 1%, 5%, and 10% levels, respectively. The figures below the estimated coefficients are t-statistics estimated by the robust standard errors.

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Table 5: COMPARISONS OF REALIZED AND PREDICTED ECONOMIC GROWTH RATES. The predicted economic growth rates (1) and (2) are obtained using the last models in Tables 3 and 4, respectively. The variable denoted by “Southern African Countries” means the average growth rates of the Sub-Saharan African countries. The figures in the parentheses are the numbers of the Sub-Saharan African countries.

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Table 6: ROBUSTNESS TEST 1 USING CONTINENT, COLONIAL RULER, AND LEGAL ORIGIN VARIABLES. GDPR, SKULY, TECHNO, DURTN, INDEPY, and IMMIGR stand for “growth rate of GDP per capita,” “average schooling years per capita,” “technology level,” “colonial duration,” “independence year,” and “immigrant ratio,” respectively. COLOY denotes “colonization year,” which is defined as the difference between “independence year” and “colonial duration.” Furthermore, CNTNTD, COLRUD, and LEGORGD are “continent dummy,” “colonial ruler dummy,” and “legal origin dummy,” respectively. Refer to the Appendix for the description of each variable. Models 1, 2, 3, and 4 are estimated using all ex-colonies; Models 5 and 6 are estimated by excluding Brazil, Korea, and Indonesia; Models 7 and 8 are estimated using data sets excluding the United States, Canada, Australia, and New Zealand; and Model 9 is estimated by excluding Korea. The statistics denoted by ∗∗∗, ∗∗, and ∗ mean that they are significant at the 1%, 5%, and 10% levels, respectively. The figures below the estimated coefficients are t-statistics estimated by the robust standard errors.

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