Table 2 Controlling for potential...

Table 2

Controlling for potential mechanisms

	Baseline	Controlling for potential mechanisms
	(1)	(2)	(3)	(4)	(5)
Panel A. Second-stage estimates. Dependent variable is CC
IDV	0.045^***	0.025	0.016	0.039^**	0.015
	[0.012]	[0.029]	[0.040]	[0.016]	[0.055]
Log of GDP per capital		0.237			0.033
		[0.325]			[0.324]
Governance			0.640		0.514
			[0.757]		[0.764]
Female political representation				0.015	0.007
				[0.022]	[0.019]
Panel B. First-stage estimates. Dependent variable is IDV
Bdist_UK	−7.757^***	−4.847^*	−4.360^*	−7.392^***	−3.721
	[2.567]	[2.659]	[2.504]	[2.679]	[2.537]
pathogen	−16.203^***	−10.391	−5.939	−14.631^***	−5.542
	[3.213]	[3.765]	[4.222]	[3.512]	[4.520]
Geographic controls	✔	✔	✔	✔	✔
First-stage F-statistics	27.25	6.42	3.32	16.40	2.26
Over-identification [p-value]	0.824	0.754	0.435	0.748	0.401
Observations	82	81	78	82	77
First-stage R-squared	0.660	0.695	0.753	0.668	0.757

	Baseline	Controlling for potential mechanisms
	(1)	(2)	(3)	(4)	(5)
Panel A. Second-stage estimates. Dependent variable is CC
IDV	0.045^***	0.025	0.016	0.039^**	0.015
	[0.012]	[0.029]	[0.040]	[0.016]	[0.055]
Log of GDP per capital		0.237			0.033
		[0.325]			[0.324]
Governance			0.640		0.514
			[0.757]		[0.764]
Female political representation				0.015	0.007
				[0.022]	[0.019]
Panel B. First-stage estimates. Dependent variable is IDV
Bdist_UK	−7.757^***	−4.847^*	−4.360^*	−7.392^***	−3.721
	[2.567]	[2.659]	[2.504]	[2.679]	[2.537]
pathogen	−16.203^***	−10.391	−5.939	−14.631^***	−5.542
	[3.213]	[3.765]	[4.222]	[3.512]	[4.520]
Geographic controls	✔	✔	✔	✔	✔
First-stage F-statistics	27.25	6.42	3.32	16.40	2.26
Over-identification [p-value]	0.824	0.754	0.435	0.748	0.401
Observations	82	81	78	82	77
First-stage R-squared	0.660	0.695	0.753	0.668	0.757

Note(s): Robust standard errors in squared brackets, ^***p < 0.01, ^**p < 0.05, ^*p < 0.1

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