Global Flow of Foreign Aid and Change in Recipients’ Local Labor Institutions
Table 4
Estimation results of regressing the labor institutional distance component indicators on actual economic aid flow.
HRMW_LI
HFR_LI
CCB_LI
HR_LI
MCWD_LI
CONS_LI
HRMW_LI
HFR_LI
CCB_LI
HR_LI
MCWD_LI
CONS_LI
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
Actual_Aid_Econ
−0.1412 (−3.429)
−0.0545 (−1.312)
−0.1153 (−3.239)
−0.0893 (−2.440)
0.0098 (0.537)
0.0820 (2.582)
−0.1681 (−4.013)
−0.0545 (−1.314)
−0.1054 (−3.029)
−0.1072 (−2.908)
0.0186 (1.056)
0.0672 (2.138)
LN_GDP
0.2630 (3.062)
−1.1091 (−10.512)
−0.3230 (−3.706)
−2.5215 (−25.533)
2.0648 (26.053)
−2.3114 (−38.460)
LN_GDPC
0.4235
0.7877 (13.216)
0.1498 (3.046)
2.1510 (39.685)
−1.6123 (−34.253)
1.5943 (48.394)
(8.898)
Trade
−0.0286 (−2.785)
−0.0184 (−1.713)
−0.0233 (−2.621)
0.0582 (5.089)
0.0474 (7.013)
0.1306 (21.343)
LifeExp
−0.1867 (−9.679)
0.0640 (3.370)
0.2097 (12.715)
0.0916 (4.306)
−0.0121 (−0.909)
−0.1156 (−8.301)
Urban
−0.3592 (−9.794)
−0.1518 (−4.257)
0.0004 (0.012)
−0.2065 (−5.568)
−0.2190 (−7.954)
−0.2907 (−12.548)
No. of observations
48,594
45,204
45,169
49,058
45,283
51,566
48,594
45,204
45,169
49,058
45,283
51,566
F statistics
0.8090
0.7638
0.8299
0.7554
0.9131
0.8841
0.8119
0.7653
0.8307
0.7672
0.9198
0.8936
Adjusted
154.4905
66.2486
35.9921
69.1545
87.9108
166.5913
145.0246
57.6528
36.3482
106.3300
124.7327
276.2221
Notes: All regressions include an intercept and are estimated by pooled OLS with White’s correction of heteroskedasticity. t-statistics are in parentheses. ,, and denote significance at 1%, 5%, and 10% levels, respectively. Time- and pair-country-fixed effects are included in all regressions, but not reported. The number of observations varies across specifications since each subindicator of the labor market regulations has its own set of missing values.
