APPENDIX TABLE A1.
Coffee Price Fluctuations and County-Level Public Finance
| Estimate | Standard Error | N | R2 | |
|---|---|---|---|---|
| Total Local Government Income | 0.002 | (0.024) | 8,020 | 0.95 |
| Transfer Income | −0.005 | (0.006) | 8,020 | 0.90 |
| Capital Income | 0.000 | (0.001) | 8,020 | 0.71 |
| Total Direct Taxes | −0.001 | (0.008) | 8,020 | 0.94 |
| Total Indirect Taxes | 0.008 | (0.012) | 8,020 | 0.96 |
| Industry and Commerce Taxes | 0.005 | (0.007) | 8,020 | 0.96 |
| Total Spending | −0.005 | (0.039) | 8,020 | 0.92 |
| Investment Spending | −0.013 | (0.019) | 8,020 | 0.90 |
| Operational Spending | 0.003 | (0.017) | 8,020 | 0.94 |
| Water Spending | −0.001 | (0.002) | 8,020 | 0.39 |
| Infrastructure Spending | −0.008 | (0.006) | 8,020 | 0.68 |
| Housing Spending | −0.001 | (0.005) | 8,020 | 0.53 |
| Education Spending | −0.001 | (0.003) | 8,020 | 0.77 |
| Health Spending | 0.001 | (0.002) | 8,020 | 0.75 |
Notes: County-year public finance data for years 1984–1993 from Contraloria General de la Nación; coffee cultivation data from the National Federation of Coffee Grower’s early 1980s coffee census; annual internal coffee price data from the National Federation of Coffee Growers. Estimates and standard errors (in parentheses, clustered by county) shown for the interaction between coffee growing intensity and coffee price obtained by estimating equation 1 (controlling for county and year fixed effects and county-specific linear trends). Coffee area is in hectares and coffee prices are in pesos per kilogram.
*
p<0.1,
**
p<0.05,
***
p<0.01.