
The Eэect of Inequality.
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21
Table 8
Investment Provile with Ethnic Tension.
Investment Pro…le |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.262** [-0.108] |
0.254** [-0.119] |
Lagged 2-yr |
-0.242** [-0.112] |
-0.229** [-0.099] |
Polity |
-0.887 [-0.704] |
-1.260** [-0.612] |
Gini |
-0.092 [-0.074] |
-0.146** [-0.062] |
Gini*Polity |
0.015 [-0.01] |
0.020** [-0.009] |
Log GDP per capita |
1.971***[-0.501] |
2.657*** [-0.644] |
Log of Population |
5.766 [-4.599] |
6.968 [-5.844] |
Endowment/Mineral Depletion |
-10.724*** [-4.068] |
-0.39 [-0.435] |
Ethnic Tension |
-0.291 [-0.324] |
-0.393 [-0.312] |
Constant |
-95.242 [-79.556] |
-117.793 [-100.61] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
115.9 |
211.8 |
Sargan p-value |
0.248 |
0.286 |
AB 2 p-values |
0.813 |
0.908 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

22
Table 9
Investment Provile with Religious Tension.
Investment Pro…le |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.386*** [ -0.118] |
0.346*** [-0.122] |
Lagged 2-yr |
-0.215** [0.096] |
-0.128 [-0.106] |
Polity |
-0.95 [-0.68] |
0.021** [-0.009] |
Gini |
-0.086 [-0.079] |
-0.149** [-0.061] |
Gini*Polity |
0.015 [0.011] |
0.021** [-0.009] |
Log GDP per capita |
1.684*** [-0.46] |
2.283** [-0.913] |
Log of Population |
2.682 [-4.378] |
3.326[-6.32] |
Endowment/Mineral Depletion |
-9.059*** [-3.496] |
-0.168 [-0.381] |
Religious Tension |
-0.103 [-0.299] |
-0.159 [-0.261] |
Constant |
-43.456 [-76.433] |
-55.716 [-109.263] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
241 |
345.2 |
Sargan p-value |
0.157 |
0.225 |
AB 2 p-values |
0.937 |
0.678 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

23
Table 10
Investment Provile with Internal Con‡ict.
Investment Pro…le |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.307** [-0.15] |
0.328** [-0.14] |
Lagged 2-yr |
-0.260*** [-0.093] |
-0.206** [-0.098] |
Polity |
-0.931 [-0.607] |
-1.435* [-0.737] |
Gini |
-0.09 [-0.072] |
-0.180*** [-0.067] |
Gini*Polity |
0.012* [-0.007] |
0.023** [-0.009] |
Log GDP per capita |
1.903*** [-0.516] |
2.414** [-0.956] |
Log of Population |
-1.058 [-5.798] |
0.923 [-6.225] |
Endowment/Mineral Depletion |
-10.406*** [-3.31] |
-0.291 [-0.447] |
Internal Con‡ict |
-0.168* [-0.093] |
-0.082 [-0.11] |
Constant |
19.066 [-99.878] |
-15.828 [-107.043] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
249.2 |
347.2 |
Sargan p-value |
0.102 |
0.229 |
AB 2 p-values |
0.979 |
0.851 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

24
Table 11
Investment Provile with External Con‡ict.
Investment Pro…le |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.372*** [-0.1] |
0.403*** [-0.145] |
Lagged 2-yr |
-0.203*** [-0.069] |
-0.1 [-0.094] |
Polity |
-0.62 [-0.715] |
-1.334 [-1.388] |
Gini |
-0.061 [-0.082] |
-0.151 [-0.094] |
Gini*Polity |
0.007 [-0.01] |
0.014 [-0.014] |
Log GDP per capita |
1.478*** [-0.472] |
2.058* [-1.052] |
Log of Population |
0.498 [-5.439] |
0.792 [-7.38] |
Endowment/Mineral Depletion |
-10.774*** [-3.79] |
-0.036 [-0.54] |
External Con‡ict |
-0.072 [-0.162] |
-0.126 [0.262] |
Constant |
-6.641 [-95.602] |
-11.084 [-126.864] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
356.7 |
274.5 |
Sargan p-value |
0.204 |
0.189 |
AB 2 p-values |
0.803 |
0.374 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

25
Table 12
Corruption with Military in Politics.
Corruption |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.523*** [-0.099] |
0.421*** [-0.111] |
Lagged 2-yr |
-0.062 [-0.133] |
-0.068 [-0.118] |
Polity |
0.35 [-0.51] |
0.584 [-0.419] |
Gini |
0.085 [-0.088] |
0.110* [-0.062] |
Gini*Polity |
-0.004 [-0.01] |
-0.007 [-0.007] |
Log GDP per capita |
-0.14 [-0.402] |
-0.624 [-0.56] |
Log of Population |
1.67 [-3.424] |
-0.012 [-3.748] |
Endowment/ Mineral Depletion |
-1.808 [-3.903] |
-0.075 [-0.298] |
Military in Politics |
0.076 [-0.218] |
0.072 [-0.154] |
Constant |
-29.617 [-58.281] |
0.656 [-64.49] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
280.7 |
179.1 |
Sargan p-value |
0.46 |
0.118 |
AB 2 p-value |
0.961 |
0.839 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

26
Table 13
Corruption with Ethnic Tension.
Corruption |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.640*** [-0.115] |
0.508*** [-0.172] |
Lagged 2-yr |
-0.033 [-0.144] |
-0.051 [-0.145] |
Polity |
0.216 [-0.363] |
0.365 [-0.461] |
Gini |
0.049 [-0.052] |
0.063 [-0.069] |
Gini*Polity |
-0.002 [-0.007] |
0.003 [-0.009] |
Log GDP per capita |
0.014 [-0.33] |
-0.219 [-0.368] |
Log of Population |
-0.686 [-3.642] |
-0.246 [-3.638] |
Endowment/ Mineral Depletion |
-3.367 [-2.969] |
-0.151 [-0.276] |
Ethnic Tension |
0.206 [-0.273] |
0.231 [-0.315] |
Constant |
8.675 [-61.464] |
2.581 [-61.577] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
366.7 |
233.9 |
Sargan p-value |
0.197 |
0.165 |
AB 2 p-value |
0.825 |
0.923 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

27
Table 14
Corruption with Religions Tension.
Corruption |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.553*** [-0.114] |
0.299* [-0.18] |
Lagged 2-yr |
-0.036 [-0.141] |
-0.04 [-0.115] |
Polity |
0.524* [-0.316] |
0.302 [-0.335] |
Gini |
0.067* [-0.039] |
0.046 [-0.043] |
Gini*Polity |
-0.005 [-0.005] |
0 [-0.005] |
Log GDP per capita |
-0.231 [-0.348] |
-0.493 [-0.392] |
Log of Population |
-0.669 [-3.049] |
0.969 [-3.674] |
Endowment/ Mineral Depletion |
-1.606 [-3.741] |
-0.112 [-0.246] |
Religious Tension |
0.565*** [-0.21] |
0.605*** [-0.203] |
Constant |
6.441 [-51.12] |
-16.33 [-60.285] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
223.6 |
252.1 |
Sargan p-value |
0.497 |
0.331 |
AB 2 p-value |
0.807 |
0.823 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

28
Table 15
Corruption with Internal Con‡ict.
Corruption |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.510*** [-0.147] |
0.329* [-0.171] |
Lagged 2-yr |
-0.087 [-0.149] |
-0.158 [-0.157] |
Polity |
0.696 [-0.469] |
-0.783 [-0.766] |
Gini |
0.073 [-0.055] |
0.083 [-0.097] |
Gini*Polity |
-0.006 [-0.006] |
0.004 [-0.011] |
Log GDP per capita |
-0.407 [-0.385] |
-0.708 [-0.608] |
Log of Population |
-1.048 [-3.944] |
0.012 [-4.16] |
Endowment/ Mineral Depletion |
2.227 [-4.117] |
0.056 [-0.401] |
Internal Con‡ict |
-0.08 [-0.061] |
-0.086 [-0.067] |
Constant |
16.642 [-66.491] |
1.466 [-70.949] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
294.5 |
204.6 |
Sargan p-value |
0.434 |
0.343 |
AB 2 p-value |
0.868 |
0.634 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

29
Table 16
Corruption with External Con‡ict.
Corruption |
Endowment |
Mineral Depletion |
Lagged 1-yr |
0.599*** [-0.105] |
0.410*** [-0.145] |
Lagged 2-yr |
-0.089 [-0.133] |
-0.109 [-0.167] |
Polity |
0.279 [-0.596] |
0.633 [-0.446] |
Gini |
0.044 [-0.079] |
0.078 [-0.054] |
Gini*Polity |
-0.002 [-0.01] |
-0.005[-0.007] |
Log GDP per capita |
-0.151 [-0.259] |
-0.437 [-0.491] |
Log of Population |
0.159 [-4.4277] |
1.926 [-3.986] |
Endowment/ Mineral Depletion |
-0.153 [-2.791] |
-0.077 [-0.316] |
External Con‡ict |
0.073 [-0.095] |
0.109 [-0.102] |
Constant |
-3.936 [-73.888] |
-33.119 [-66.91] |
Observation |
267 |
267 |
Number of Countries |
58 |
58 |
Number of Instruments |
55 |
55 |
Chi2 |
404 |
163.1 |
Sargan p-value |
0.175 |
0.144 |
AB 2 p-value |
0.775 |
0.618 |
|
|
|
Notes: |
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions

30
Table 17
Bureaucratic Quality with Military in Politics.
Bureaucratic Quality |
Endowment |
Mineral Depletion |
|
Lagged 1-yr |
0.954*** [-0.129] |
1.023*** [-0.142] |
|
Lagged 2-yr |
-0.817*** [-0.264] |
-0.841*** [-0.236] |
|
Polity |
0.005 |
[-0.024] |
0.003 [-0.034] |
Gini |
0 [-0.005] |
-0.001 [-0.002] |
|
Gini*Polity |
0 [-0.001] |
0 [-0.001] |
|
Log GDP per capita |
0.023 |
[-0.078] |
-0.021 [-0.048] |
Log of Population |
0.035 |
[-0.71] |
-0.081 [-0.016] |
Endowment/ Mineral Depletion |
0.638 |
[-0.494] |
-0.009 [-0.016] |
Military in Politics |
0.007 |
[-0.043] |
0.001 [-0.008] |
Constant |
1.412 |
[-11.648] |
3.758 [-9.467] |
Observation |
267 |
|
267 |
Number of Countries |
58 |
|
58 |
Number of Instruments |
55 |
|
55 |
Chi2 |
322.7 |
|
183.5 |
Sargan p-value |
0.993 |
|
0.997 |
AB 2 p-values |
0.511 |
|
0.64 |
|
|
|
|
Notes: |
|
|
|
(a)*** p=0.01, ** p=0.05, *p=0.1
(b)Time dummies and category dummies are included in all regressions