Table 3.

Structural conditions and poverty in developing countries

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)
Conditions
Trade and exchange	0.051**								0.012***
	(0.023)								(0.004)
Institutional reforms		0.094**							0.019**
		(0.043)							(0.009)
Labor			0.064**						0.018**
			(0.031)						(0.007)
Privatization				0.057**					0.014**
				(0.028)					(0.006)
Financial sector					0.015				0.001
					(0.009)				(0.003)
Revenue and tax issues						0.024**			0.016***
						(0.011)			(0.005)
Fiscal issues							0.017		0.004
							(0.011)		(0.004)
Other conditions								0.404	0.008
								(0.282)	(0.022)
IMF programme	0.093***	0.108***	0.098***	0.096***	0.095***	0.096***	0.101***	0.094***	0.101***
	(0.018)	(0.015)	(0.016)	(0.017)	(0.017)	(0.016)	(0.015)	(0.019)	(0.015)
Economic controls
GDP (logged)	− 0.357***	− 0.366***	− 0.387***	− 0.367***	− 0.366***	− 0.375***	− 0.377***	− 0.372***	− 0.386***
	(0.031)	(0.027)	(0.019)	(0.027)	(0.027)	(0.022)	(0.022)	(0.026)	(0.019)
Hyperinflation	0.093***	0.119***	0.115***	0.100***	0.111***	0.105***	0.101***	0.116***	0.096***
	(0.035)	(0.040)	(0.038)	(0.036)	(0.037)	(0.036)	(0.035)	(0.042)	(0.035)
Deflation	0.015	0.001	− 0.013	0.026	0.009	0.006	0.004	0.035	0.011
	(0.029)	(0.032)	(0.036)	(0.030)	(0.029)	(0.030)	(0.030)	(0.033)	(0.029)
Natural resources	− 0.001	− 0.002	− 0.003	− 0.002	− 0.003	− 0.002	− 0.003*	− 0.004**	− 0.003*
	(0.003)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)
Trade	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.000	0.001
	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.000)
Capital inflows	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001
	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)	(0.001)
Political controls
Polity 5	0.009***	0.008***	0.008***	0.008***	0.008***	0.009***	0.008***	0.012***	0.009***
	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)
Left executive	0.016	0.023	0.026	0.030	0.018	0.019	0.020	0.029	0.019
	(0.020)	(0.021)	(0.021)	(0.023)	(0.020)	(0.020)	(0.020)	(0.024)	(0.020)
Population growth	− 0.033**	− 0.023	− 0.031**	− 0.029**	− 0.028**	− 0.028**	− 0.031**	− 0.024	− 0.033**
	(0.013)	(0.015)	(0.013)	(0.014)	(0.014)	(0.014)	(0.013)	(0.016)	(0.013)
Urban population	− 0.011***	− 0.011***	− 0.011***	− 0.012***	− 0.010***	− 0.010***	− 0.011***	− 0.009***	− 0.010***
	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)	(0.003)
Life expectancy (logged)	1.300***	1.275***	1.597***	1.299***	1.283***	1.290***	1.320***	1.240***	1.366***
	(0.227)	(0.233)	(0.277)	(0.230)	(0.226)	(0.224)	(0.221)	(0.252)	(0.222)
Constant	6.722***	6.973***	6.179***	6.990***	6.979***	7.173***	7.104***	7.262***	7.074***
	(0.880)	(0.834)	(1.080)	(0.828)	(0.810)	(0.780)	(0.784)	(0.847)	(0.778)
Instruments
Ln(IMF Liquid)* CondProb	0.297***	0.191***	0.257***	0.283***	1.160***	0.744***	1.053***	0.039***
(Agreements w/struct. cond.)	(0.063)	(0.041)	(0.050)	(0.071)	(0.166)	(0.105)	(0.112)	(0.015)
Observations	1,716	1,716	1,716	1,716	1,716	1,716	1,716	1,716	1,716
Number of countries	81	81	81	81	81	81	81	81	81
Weak identification F test	23.26***	10.78***	8.66***	14.15***	4.33	13.50***	4.37**	14.33**	–
Kleibergen–Paap underidentification test	15.50***	12.66***	14.14***	11.01***	6.01	11.33***	6.22*	10.01***	–

Dependent variable: poverty headcount ratio at national poverty line (logged).

All control variables lagged by 1 year. All regressions include country, and year fixed effects and bootstrapped standard errors.

*p < .1; **p < .05; ***p < .01