The Long-Term Effects of Africa's Slave Trades - Social Sciences ...

Table 5: IV Estimates Using Distances to the Locations of Demand as
Instruments.
OLS IV IV OLS IV IV
(1) (2) (3) (4) (5) (6)
Second Stage. Dependent variable is log income in 2000
ln(exports/area) −.108 ∗∗∗ −.182 ∗∗∗ −.192 ∗∗∗ −.108 ∗∗∗ −.185 ∗∗∗ −.188 ∗∗∗
(−.025) [−.61, −.17] [−.48, −.14] (.024) [−.63, −.10] [−.52, −.11]
Colonizer fixed effects No No No Yes Yes Yes
F-stat 18.5 11.9 12.6 5.22 4.16 4.14
Number obs. 52 52 52 52 52 52
First Stage. Dependent variable is ln(exports/area)
Interior distance −.0006 −.0007
(.0014) (.0016)
Atlantic distance −.0012 ∗∗∗ −.0011 ∗∗∗ −.0016 ∗∗∗ −.0015 ∗∗∗
(.0004) (.0004) (.0005) (.0004)
Indian distance −.0008 ∗∗∗ −.0008 ∗∗∗ −.0009 ∗∗ −.0009 ∗∗∗
(.0003) (.0003) (.0003) (.0003)
Saharan distance −.0019 ∗∗ −.0019 ∗∗ −.0021 ∗∗ −.0021 ∗∗
(.0008) (.0008) (.0009) (.0008)
Red Sea distance −.0004 −.0002 −.0008 −.0006
(.0008) (.0008) (.0009) (.0008)
Colonizer fixed effects No No Yes Yes
F-stat 3.33 4.19 2.08 2.30
Sargan test (p-value) .04 .09 .24 .19
Hausman test (p-value) .07 .04 .01 .01
Notes: Slave exports is the total number of slaves exported from each country between 1400 and
1900 in the four slave trades. The colonizer variables are indicator variables for the identity of the
colonizer at the time of independence. Coefficients are reported, with standard errors in brackets.
For the endogenous variable, Anderson-Rubin 95 percent confidence regions are reported rather
than standard errors. The p-value of the Hausman test is for the Wu-Hausman chi-squared test.
∗∗∗ , ∗∗ , and ∗ indicate significance at the 1, 5, and 10 percent levels.
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