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Instrumental Variables in the Long Run

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Figure 2: This figure depicts the coeffion its 10-year lagged value in over period 1850–2013 with a 50-year regression window and a stepsize of 1 years, estimated with OLS
Figure 3: This figure depicts the coeffiracy on its 10-year lagged value in over period 1810–2013 with a 50-year regression window anda step size of 1 years, estimated with OLS
Table 3: Estimating the long-run effect of Institutions
Figure A.1: This figure depicts the average level of Democracy plotted against time for countrieswith available data for the 150-year period.
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