VARIABLES | (1) Before 1992 | (2) After 1992 | (3) Before 2002 | (4) After 2002 |
Fixed ER | 0.0778 | 0.144*** | 0.139*** | 0.0959** |
| (0.0590) | (0.0294) | (0.0364) | (0.0441) |
Chinn-Ito index | −0.0820** | −0.0300** | 0.0289* | −0.00130 |
| (0.0330) | (0.0133) | (0.0169) | (0.0258) |
GDP per capita | −0.260*** | −0.00576 | −0.0948** | −0.116* |
| (0.0824) | (0.0404) | (0.0477) | (0.0680) |
Population | 0.700 | 2.477*** | 0.814*** | 2.887*** |
| (0.436) | (0.176) | (0.223) | (0.298) |
Democracy | 0.0712 | 0.0583 | 0.154*** | 0.136** |
| (0.0762) | (0.0407) | (0.0515) | (0.0570) |
Political Rights | 0.113* | 0.128*** | 0.208*** | 0.140*** |
| (0.0667) | (0.0375) | (0.0436) | (0.0533) |
Constant | 17.73*** | 9.346*** | 15.34*** | 8.554*** |
| (1.753) | (0.534) | (1.446) | (0.979) |
Year Fixed Effects | Y | Y | Y | Y |
Donor-Recipient Pair Fixed Effects | Y | Y | Y | Y |
Observations | 10,806 | 32,655 | 21,997 | 21,464 |
R-squared | 0.025 | 0.019 | 0.022 | 0.014 |
Number of pairs | 1429 | 3614 | 2281 | 3498 |