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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 7: ROBUSTNESS TEST 2 USING PRECOLONIAL INDEX. GDPR, SKULR, URBR, POPDEN1, POPDEN2, STATE, STATE AD 50, TECHNO, DURTN, INDEPY, and IMMIGR stand for “growth rate of GDP per capita,” “primary school enrollment rate,” “urbanization rate,” “population density 1,” “population density 2,” “state antiquity index AD 1950,” “state antiquity index AD 50,” “technology level,” “colonial duration,” “independence year,” and “immigrant ratio,” respectively. Furthermore, CNTNTD and COLRUD are “continent dummy” and “colonial ruler dummy,” respectively. In particular, STATE is the Putterman’s index value of AD 1950 discounted by his 5% rate; STATE AD 50 is the Putterman’s index value of AD 50; POPDEN1 and POPDEN2 are estimated by Acemoglu, Johnson, and Robinson (2001) and Bandyopadhyay and Green (2012), respectively. Owing to the shortage of samples, we let CNTNTD be 1 if a country belongs to Africa or North America; and 0 if it belongs to South America. For Models 6 and 7, CNTNTD is 0 if the country belongs to South America; and 1 if it belongs to Asia, Africa, or North America. COLRUD is 1 if the colonial rulers are the United Kingdom, France, or Spain, and 0 otherwise. Refer to the Appendix for the descriptions of the other variables. The instrumental variables for STATE in Model 4 are STATE AD 500 and TECHNO AD 1500; the instrumental variables for STATE AD 50 in Model 6 are TECHNO 1000 BC and “biogeography”; and the instrumental variables for TECHNO 1000 BC in Model 7 are “date of agriculture” and “biogeography.” The F -statistics denoted by 2SLS estimation method are from the 1st-stage LS model.

The over-identification p-values are 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 8: ROBUSTNESS TEST 3 USING GEOGRAPHICAL, ETHNIC, AND RELIGIOUS VARIABLES. DGPR, SKULY, TECHNO, STATE AD 50, DURTN, IMMIGR, INDEPY, MALA, LNDLCKD, ETHDVI, ADELMO, RLAW, and SAHARAD stand for “growth rate of GDP per capita,” “average schooling years per capita,” “technology level,” “state antiquity index AD 1950,” “colonial duration,” “immigrant ratio,” “independence year,” “malaria ecology,” “landlocked country dummy,” “ethnic diversity index,” “Adelman-Morris index,” “rule of law index,” and “Sub-Saharan Africa dummy,” respectively. Furthermore, The “Religious Dummy” shows the p-value of the F -statistic that tests the coefficients of Catholic, Protestant, Muslim, and the other dummy variables are zero. Refer to the Appendix for the descriptions of the other variables. The instrumental variables used for Model 8 are LATI and NECO. 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 9: ROBUSTNESS TEST 4 USING MACROECONOMIC VARIABLES. DGPR, SKULR, TECHNO, STATE, POPDEN2, DURTN, IMMIGR, INDEPY, INVR, COUP, OVEREXCHNGR, POPINCR, INFR, COLRUD, and CNTNTD stand for “growth rate of GDP per capita,” “primary school enrollment rate,” “technology level,” “state antiquity index AD 1950,” “population density 2,” “colonial duration,” “immigrant ratio,” “independence year,” “investment rate,” “coups frequency,” “real exchange rate overvaluation,” “population increase rate,” “inflation rate,” “colonial ruler dummy,” and “continent dummy,” respectively. COLRUD is 1 if the colonial rulers are the United Kingdom, France, or Spain, and 0 otherwise. CNTNTD is 1 if a country belongs to Asia, Africa, North or South America, and 0 otherwise. For Model 10, we let COLRUD be 0 if a country belongs to South America because Oceanic observations are not available. Refer to the Appendix for the descriptions of the other variables. The instrumental variables for TECHNO AD 1500 in Model 7 are log(POPDEN2) and STATE AD 500; the instrumental variables for STATE in Model 8 are TECHNO AD 1500 and STATE AD 500; and the instrumental variable for TECHNO 1000 BC in Model 10 is “biogeography,” so that we do not need the over-identification test. The F -statistics denoted by 2SLS estimation method are from the 1st-stage LS model. The over-identification p-values are 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 10: ROBUSTNESS TEST 5 USING MACROECONOMIC VARIABLES. DGPR, SKULY, TECHNO, STATE, POPDEN2, DURTN, IMMIGR, INDEPY, LIFE, EXCHNGRDIST, NATUALEXP, PUBINV, COLRUD, and CNTNTD stand for “growth rate of GDP per capita,” “average schooling years per capita,” “technology level,” “state antiquity index AD 1950,” “population density 2,” “colonial duration,” “immigrant ratio,” “independence year,” “life expectancy,” “real exchange distortion index,” “ratio of natural resource exports to GDP,” “share of public investment,” “colonial ruler dummy,” and “continent dummy,” respectively. Refer to the Appendix for the descriptions of the other variables. COLRUD is 1 if the colonial rulers are the United Kingdom, France, or Spain, and 0 otherwise. CNTNTD is 1 if a country belongs to Asia, Africa, or North or South America; and 0 otherwise. The instrumental variables for STATE in Model 7 are STATE AD 1000 and TECHNO AD 1500; and the instrumental variable for log(POPDEN2) in Model 10 is TECHNO AD 1500, so that we do not need the over-identification test. The F -statistics denoted by 2SLS estimation method are from the 1st-stage LS model. The over-identification p-values are 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 11: ROBUSTNESS TEST 6 USING INCOME DISTRIBUTIVE VARIABLE. GDPR, SKULR, TECHNO, STATE AD 50, DURTN, IMMIGR, INDEPY, LGINI, MIDCLS, COLRUD, and CNTNTD stand for “growth rate of GDP per capita,” “primary school enrollment rate,” “technology level,” “state antiquity index AD 50,” “colonial duration,” “immigrant ratio,” “independence year,” “land GINI coefficient,” “share of middle class,” “colonial ruler dummy,” and “continent dummy,” respectively. COLRUD is 1 if the colonial rulers are the United Kingdom, France, or Spain, and 0 otherwise. CNTNTD is 1 if a country belongs to Asia, Africa, or North or South America, 0 otherwise. Refer to the Appendix for the descriptions of the other variables. The instrumental variables for STATE AD 50 in Model 5 are TECHNO AD 1500 and date of agriculture. The F -statistics denoted by 2SLS estimation method are from the 1st-stage LS model. The over-identification p-values are 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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