africa

Africa at a Fork in the Road: Taking Off or Disappointment Once Again?
Table 12.7: Difference-in-Difference Estimates of the Effect of Electoral
Competition on Regulatory Reform (Panel of 5-year averages, 1960/64 –
2005/09)
VARIABLES
(1) (2) (3) (4) (5)
Reform
Index
Maximum
Sample
Reform Index Reform Index Reform Index Reform Index
Largest Common Sample
Electoral Comp (t-1) 0.0751** 0.0428 0.0500** 0.0546*** 0.0472**
(0.0365) (0.0250) (0.0197) (0.0167) (0.0177)
Neibrs Elect Comp (t-2) -0.0414** -0.0401** -0.0429**
(0.0159) (0.0157) (0.0154)
Civil War dummy (t-1) -0.00311 -0.00319 -0.0115
(0.0276) (0.0291) (0.0458)
Under IMF dum (t-1) -0.0215 -0.0424
(0.0380) (0.0507)
Trd Shr Ore/Metal (t-1) -0.00278
(0.00269)
Trade Shr Fuels (t-1) 0.00177*
(0.000956)
Dependency ratio (t-1) 0.673
(1.611)
Time trend 0.0756*** 0.101*** 0.112*** 0.112*** 0.121***
(0.00911) (0.00787) (0.00845) (0.00817) (0.0198)
Constant -0.222*** -0.405*** -0.351*** -0.343*** -0.680
(0.0569) (0.0582) (0.0625) (0.0623) (0.923)
Observations 171 53 53 53 53
R-squared 0.764 0.885 0.901 0.902 0.909
Country Fixed Effects Yes Yes Yes Yes Yes
Number of Countries 30 21 21 21 21
Notes: Robust standard errors in parentheses. *** p