Table 5.

Robustness check employing alternative instrumental variables

Variables	Dependent: Poverty							Dependent: inequality
	(29)	(30)	(31)	(32)	(33)	(34)	(35)	(36)	(37)	(38)	(39)	(40)	(41)	(42)
	LIML	LIML	LIML	LIML	LIML	LIML	LIML	LIML	LIML	LIML	LIML	LIML	LIML	LIML
FI_1	− 0.330***							− 0.271
	(0.105)							(0.390)
FI_2	0.107							− 0.164
	(0.155)							(0.237)
ATMS		− 0.372***							− 0.0490***
		(0.0947)							(0.0114)
DEP1K			− 1.270***							− 0.155***
			(0.477)							(0.0546)
ACC1K				− 1.105***							− 0.209***
				(0.242)							(0.0375)
BOR1K					0.253							0.0247
					(0.347)							(0.0445)
LOANS						− 0.869***							− 0.156***
						(0.189)							(0.0204)
DEPGDP							− 0.674**							− 0.172***
							(0.323)							(0.0313)
GDPPC	− 0.436	− 0.962*	1.540	0.623	− 3.099***	− 1.233***	− 1.851***	2.531	− 0.158**	− 0.0216	0.229*	− 0.519***	− 0.141***	− 0.216***
	(1.542)	(0.561)	(1.723)	(0.762)	(0.660)	(0.370)	(0.360)	(4.270)	(0.0747)	(0.199)	(0.117)	(0.0808)	(0.0513)	(0.0454)
FEM	0.122	0.332	1.117	1.697	0.674	0.591	0.684	− 0.562	− 0.401*	− 0.120	− 0.303*	− 0.348	− 0.411***	− 0.457***
	(2.735)	(1.371)	(2.847)	(1.399)	(1.544)	(1.040)	(1.173)	(1.342)	(0.208)	(0.292)	(0.172)	(0.217)	(0.145)	(0.164)
RURAL	1.835*	1.456**	2.823***	3.264***	1.117	1.200**	1.221**	0.545	− 0.0776	0.0164	0.0671	− 0.153*	− 0.105	− 0.0891
	(1.078)	(0.591)	(1.051)	(0.873)	(0.711)	(0.601)	(0.585)	(0.941)	(0.0868)	(0.129)	(0.131)	(0.0858)	(0.0810)	(0.0785)
MOB	0.111	0.0342	− 0.155	− 0.0210	− 0.0661	− 0.0627	− 0.134*	0.0293	0.00374	0.00958	− 0.0179	0.00883	− 0.00368	− 0.0133
	(0.148)	(0.0867)	(0.159)	(0.0815)	(0.110)	(0.0790)	(0.0766)	(0.0733)	(0.0137)	(0.0178)	(0.0134)	(0.0108)	(0.0108)	(0.0120)
UNEMP	0.420	0.435**	0.678**	0.586***	0.307*	0.307**	0.299**	0.124	0.00524	0.0192	0.0364	− 0.0222	− 0.00814	− 0.00467
	(0.336)	(0.177)	(0.318)	(0.185)	(0.170)	(0.153)	(0.149)	(0.225)	(0.0262)	(0.0428)	(0.0262)	(0.0220)	(0.0206)	(0.0214)
ROL	0.273	− 0.597***	− 0.569	− 0.628***	− 0.0159	− 0.205	− 0.274	− 0.0211	− 0.00120	0.0301	− 0.0114	0.0715**	0.0596**	0.0562**
	(0.449)	(0.225)	(0.366)	(0.202)	(0.312)	(0.227)	(0.232)	(0.241)	(0.0329)	(0.0465)	(0.0281)	(0.0319)	(0.0273)	(0.0272)
INF	− 0.0113	0.000971	− 0.0134*	− 0.0128**	− 0.0179**	− 0.0197***	− 0.0218***	0.0102	− 0.000163	− 0.00143	− 0.00102	− 0.00230***	− 0.00301***	− 0.00374***
	(0.00931)	(0.00969)	(0.00732)	(0.00524)	(0.00869)	(0.00670)	(0.00778)	(0.0174)	(0.000931)	(0.00108)	(0.000852)	(0.000781)	(0.000816)	(0.000936)
Endogeneity	0.217	2.411	0.802	2.951*	0.153	2.424	0.003	9.830***	3.336*	0.81	0.238	0.023	2.168	1.006
F	49.13***	49.28***	49.38***	57.83***	43.66***	69.01***	52.49***	2.07*	22.81***	19.08***	27.56***	29.91***	38.61***	31.18***
Observations	60	112	75	91	92	112	112	60	112	75	91	92	112	112
Countries	7	11	8	10	10	11	11	7	11	8	10	10	11	11

Standard errors in parentheses. *** p < 0.01, ** p < 0.05, * p < 0.01. LIML: Limited Information Maximum Likelihood estimation using lagged values and the countries' natural rents (i.e., mineral rents as percentage of GDP) as instruments, no constant is reported