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Specification (3) While the authors have done a very good job of addressing many alternative hypothesis, there is still room to worry. Even though we include country effects, there are probably still substantial variation in the rule of law across countries. One might think that financial institutions and more secure property rights would exist closer to the capital, which is usually a port city.
Considering the historical We may also be concerned of differential effects between western European port cites and other port cities. While I have no evidence in to back this paperup, we I may think that western Europe's cold climate is better for resisting disease, than the warm Mediterranean climate, and port cities had cleaner air due to the ocean breezes, so perhaps the differential effect could be concerned thatdue to less wealth loss due to sickness.
Acemoglu, Johnson, Robinson (2005) (view source)
Revision as of 14:04, 16 May 2012
, 14:04, 16 May 2012→How could the tests be improved on? Strengths? Weaknesses?
===How could the tests be improved on? Strengths? Weaknesses?===
===What are some alternative empirical strategies===
