- (Z value) (Z value) (Z value) (Z value) (Z value) log(Europeansettlers’ -0.108-0.127 0-0.157-0.145 mortality rate) (1.63) (1.65) (0.00) (2.36)* (2.22)* Constant 0.098 0.369-0.546 0.28 0.282 (0.30) (0.96) (1.19) (0.85) (0.87) Observations 429 432 432 432 429 Number of Countries 48 48 48 48 48 R2 0.05 0.06 0 0.11 0.1 Joint Significant Test F(1,46)= F(1,46)= F(1,46)= F(1,46)= F(1,46)= 2.65 2.73 0 5.57 * 4.93 * Inequality (Specification XI) 53 Dep. Variable log of Income Gini Period 2000 -2006 Model between estimator Coef.
Paper not yet in RePEc: Add citation now
- *3. Year dummies are included in the model, but are not shown for simplicity. 56 Table 12 Dynamic Panel Model for Finance (Blundell-Bond System Dynamic Panel Data Model) (Specification XIII) Definition of Financial Openness: Capital account liberalisation Definition of Financial Openness: Capital account liberalisation Chinn & Ito(2006) Index Lane and Milesi-Ferretti (2007) Index Case A Case B Case C Case D Case E Case F Case G Case H Case I Case J Case K Case L Institution No governance voice political rule of corruption No governance voice political rule of corruption & accountability stability law & accountability stability law 1980 1998 1998 1998 1998 1998 1980 1980 1998 1998 1998 1998 -2006-2006-2006-2006-2006-2006-2006-2006-2006-2006-2006-2006 Blundell-Bond System Dynamic Panel Data Model Blundell-Bond System Dynamic Panel Data Model Dep. Variable Coef. Coef. Coef. Coef. Coef. Coef. Coef. Coef. Coef. Coef. Coef. Coef.
Paper not yet in RePEc: Add citation now
- *7. Poverty head count ratios and their simulated values are aggregated for each region and all the countries by using each country’s population weights. 62 Figure 1: Determinants of Poverty Endogenous Exogenous or Predetermined Adapted from: Rodrik et al. (2004), Hoff (2003), Bardhan (2004), Gaiha et al. (2009), Baltagi et al. (2009), and Chinn and Ito (2006). Poverty Income Level Trade Openness Institutions Income Inequality Geography (region , share of Historical Factors (eg. European Settlers’ Inequality in Land and Human Capital Agricultural Income lagged Finance
Paper not yet in RePEc: Add citation now
- 3. Year dummies are included in the model, but are not shown for simplicity. 52 Table 10 Panel Data Estimation for Trade Openness, Institutions, or Inequality Trade Openness (Specification IX) Case A Case B Case C Case D Case E Case F Institution No governance voice political rule of Corruption & accountability stability law Period 1980 1998 1998 1998 1998 1998 -2006-2006-2006-2006-2006-2006 Model Random Random Random Random Random Random effects effects effects effects effects Effects Coef. Coef. Coef. Coef. Coef. Coef.
Paper not yet in RePEc: Add citation now
Acemoglu, D., S. Johnson, and J. A. Robinson (2001) ‘The Colonial Origins of Comparative Development: An Empirical Investigation’, American Economic Review, 91(5), 1369-1401.
- Acemoglu, D., S. Johnson, and J. A. Robinson (2002) ‘Reversal of Fortune: Geography and Development in the Making of the Modern World Income Distribution’, Quarterly Journal of Economics, 117(4), 1231-1294.
Paper not yet in RePEc: Add citation now
- Acemoglu, D., S. Johnson, and J. A. Robinson (2005). A Response to Albouy’s A Reexamination Based on Improved Settler Mortality Data, Draft, March, 2005.
Paper not yet in RePEc: Add citation now
Arellano, M., and S. Bond (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations’, Review of Economic Studies, 58, 277-297.
Baltagi, B. H. (1981) ‘Simultaneous equations with error components’, Journal of Econometrics, 17,189–200.
Baltagi, B. H. (2005) Econometric Analysis of Panel Data, Third Edition, John Wiley & Sons Ltd., Chichester: Baltagi, B.H., P. O. Demetriades, and S. H. Law (2008) ‘Financial development and openness: Evidence from panel data’, Journal of Development Economics, in press, doi:10.1016/j.jdeveco.2008.06.006. 31 Balestra P, and J. Varadharajan-Krishnakumar (1987) ‘Full information estimations of a system of simultaneous equations with error components structure’, Econometric Theory 3:223–246.
Bardhan, P. (2004) Scarcity, Conflicts, and Cooperation: Essays in the Political and Institutional Economics of Development, MIT Press, Cambridge.
Beck, T., A. Demirguck-Kunt, and R. Levine (2007) ‘Finance, Inequality and the Poor’, Journal of Economic Growth, 12, 27-49.
Besley, T., and R. Burgess (2003). ‘Halving Global Poverty’, Journal of Economic Perspectives, 17(3), 3-22.
Blundell, R., and S. Bond (1998) ‘Initial conditions and moment restrictions in dynamic panel-data models,’ Journal of Econometrics 87, 115-143.
Chen, S., and M. Ravallion (2008) ‘The Developing World Is Poorer Than We Thought, But No Less Successful in the Fight against Poverty’ Policy Research Working Paper WPS 4703, World Bank, Washington D.C..
Chinn, M.D. and H. Ito (2006) ‘What matters for financial development? Capital controls, institutions and interactions’, Journal of Development Economics, 81, 163– 192.
Claessens, S. and E. Feijen (2006) ‘Finance and Hunger: Empirical Evidence of the Agricultural Productivity Channel’, World Bank Policy Research Working Paper 4080, December 2006, Washington D.C.: World Bank.
Deininger, K., and L. Squire (1998) ‘New ways of looking at old issues: inequality and growth’, Journal of Development Economics, 57, 259-287. 32 Demery, L., and M. Walton (1999). Are Poverty and Social Goals for the 21st Century Attainable? IDS Bulletin, 30(2).
Gaiha, R., and K. Imai (2008) ‘Do Institutions Matter in Poverty Reduction? Prospects of Achieving the MDG of Poverty Reduction in Asia’, Statistica & Applicazioni, IV(2), 29-160.
Gaiha, R., K. Imai, and M A Nandhi (2009) ‘Millennium Development Goal of Halving Poverty in Asia and the Pacific Region: Progress, Prospects and Priorities, Journal of Asian and African Studies, 44(2), 215-237.
Guariglia, A. and S. Poncet (2008) ‘Could Financial Distortions be no Impediment to Economic Growth After All? Evidence from China’, Journal of Comparative Economics (forthcoming).
Hoff, K. (2003) ‘Paths of Institutional Development: A View from Economic History’, World Bank Economic Review, 18(2), 2205-226.
Imai, K., R. Gaiha, and G. Thapa (2008) ‘Financial crisis in Asia and the Pacific Region: Its genesis, severity and impact on poverty and hunger’, Economics Discussion Paper, 0810, University of Manchester, Manchester.
Lane, P. R, and G. M. Milesi-Ferretti (2007) ‘The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970–2004’, Journal of International Economics, 73 (2), 223-250.
- McArthur, J., and J. W. Sachs (2002) ‘A Millennium Development Strategy for Achieving Poverty Alleviation and Economic Growth’, Draft.
Paper not yet in RePEc: Add citation now
Rajan, R.G., and L. Zingales (2003) ‘The great reversals: the politics of financial development in the twentieth century’, Journal of Financial Economics, 69, 5–50. 33 Rodrik, D., A. Subramanian, and F. Trebbi (2004) ‘Institutions Rule: The Primacy of Institutions over Integration and Geography in Development’, Journal of Economic Growth, 9, 131-165.
Thapa, G., R. Gaiha, K. Imai, and V. Kulkarni (2009) ‘Soaring Food Prices: A Threat or Opportunity in Asia?’, BWPI working paper 69/2009, University of Manchester, Manchester.
- This is based on the revised international poverty data of Chen and Ravallion (2008). MDG should be based on the poverty head count ratio in 1990, but there are only a limited number of the countries with the poverty estimate exactly in 1990. Hence, if the country has the poverty data in 1990, they are used as they are, but the average (weighted by the duration from 1990) is taken where poverty data are available before and after 1990 as long as they are in 1987-1993. If there is only one estimate in 1987-1993, it is used as it is. *6. Bold italics show the cases where MDG of halving poverty is not achieved. *7.
Paper not yet in RePEc: Add citation now
- This is based on the revised international poverty data of Chen and Ravallion (2008). MDG should be based on the poverty head count ratio in 1990, but there are only a limited number of the countries with the poverty estimate exactly in 1990. Hence, if the country has the poverty data in 1990, they are used as they are, but the average (weighted by the duration from 1990) is taken where poverty data are available before and after 1990 as long as they are in 1987-1993. If there is only one estimate in 1987-1993, it is used as it is. *6. Bold italics show the cases where MDG of halving poverty is not achieved.
Paper not yet in RePEc: Add citation now
- United Nations (2008) The Millennium Development Goals Report 2008, United Nations, New York.
Paper not yet in RePEc: Add citation now
- United Nations. (2003).Promoting the Millennium Development Goals in Asia and the Pacific, United Nations, New York.
Paper not yet in RePEc: Add citation now
World Bank (2008) World Development Indicators, Oxford University Press, Washington D.C.. 34 Table 1 Specifications and Sample Sizes Table 2 Table 3 Table 4 Table 5 Table 6 Table 7