Table 2

First-stage regressions

(1)(2)(3)(4)
VariablesAdaptation financeMitigation financeAdaptation financeMitigation finance
IV: Predetermined top-donor budget-competition−0.007***−0.009***−0.007***−0.009***
(0.001)(0.002)(0.001)(0.002)
Constant0.027***0.025***0.028***0.026***
(0.003)(0.005)(0.004)(0.005)
Observations1,6501,6501,6321,632
ControlsYESYESYESYES
Region FEYESYESYESYES
Year FEYESYESYESYES
Country and year clusteredYESYESYESYES
Second-stage outcomeF.MEAN OF HIIF.MEAN OF HIIF.RLIF.RLI
Number of excluded IVs1111
Adj. R-square0.4570.4990.4580.499

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