/*Structure Do-File I. Figure 3: Common trend II. Table 2 and Figure 5: Full sample at different time periods III. Figure 4: Accumulated effect IV. Table 3 & Appendix Table 10 & 11: Low vs. high income countries V. Table 4: Excluding EU members VI. Figure 6 & Appendix Table 13: Placebo treatment VII. Table 5: Robust regression VIII. Appendix Table 6: Country in sample IX. Table 7: Symmetric pre-treatment period X. Table 8: 3 year pre-treatment period XI. Table 9: Excluding non-WTO members XII. Table 12: Excluding countries with regional treaties XIII. Table 14: Additional controls */ *I. Figure 3: Common trend clear set more off use completedata drop if year > 1997 by year, sort: egen meaninv1 = mean(lninv) if sign_1998 == 1 by year, sort: egen meaninv0 = mean(lninv) if sign_1998 == 0 & sign_later == 0 by year, sort: egen meaninv01 = mean(lninv) if sign_later == 1 label var meaninv1 "signatory countries" label var meaninv0 "non-signatory countries" label var meaninv01 "later signing countries" twoway scatter meaninv1 meaninv0 meaninv01 year || lfit meaninv1 year, lcolor(black) || lfit meaninv0 year, lcolor(maroon) lpattern(dash) graphregion(color(white)) title("Log Investments in telecommunications") graph save lnmeaninv, replace graph export lnmeaninv.pdf, replace *II. Table 2 and Figure 5: Diff-in-Diff for separate years clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1998 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *1999 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 1999 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("1999") title("ln investment full sample") label *2000 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2000 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("2000") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2001 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("2001") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2002 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("2002") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2003 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("2003") title("ln investment full sample") label *2004 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2004 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("2004") title("ln investment full sample") label *2005 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2005 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("2005") title("ln investment full sample") label *2006 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2006 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure5_non_accumulated.xls, append stats(coef) ctitle("2006") title("ln investment full sample") label *III. Figure 4: Accumulated difference at different time periods cd "C:\Users\fwwy198\Desktop\Research\I. Paper\08. Data\STATA" clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >1998 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *Effect in 1998 & 1999 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >1999 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 2 years") title("ln investment full sample") label *Effect in 2000 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2000 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 3 years") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2001 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 4 years") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2002 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 5 years") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2003 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 6 years") title("ln investment full sample") label *2004 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2004 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 7 years") title("ln investment full sample") label *2005 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2005 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 8 years") title("ln investment full sample") label *2006 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2006 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 9 years") title("ln investment full sample") label *2007 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2007 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 10 years") title("ln investment full sample") label *2008 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 drop if year >2008 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) gen did = time*sign_1998 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure4.xls, append stats(coef) ctitle("after 11 years") title("ln investment full sample") label *IV. Table 3: Effect on low vs. high income *high income clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1998 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did keep if Incomegroup == "High income" | Incomegroup == "Upper middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_high.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *1999 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 1999 keep if Incomegroup == "High income" | Incomegroup == "Upper middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_high.xls, append stats(coef) ctitle("1999") title("ln investment full sample") label *2000 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2000 keep if Incomegroup == "High income" | Incomegroup == "Upper middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_high.xls, append stats(coef) ctitle("2000") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2001 keep if Incomegroup == "High income" | Incomegroup == "Upper middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_high.xls, append stats(coef) ctitle("2001") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2002 keep if Incomegroup == "High income" | Incomegroup == "Upper middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_high.xls, append stats(coef) ctitle("2002") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2003 keep if Incomegroup == "High income" | Incomegroup == "Upper middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_high.xls, append stats(coef) ctitle("2003") title("ln investment full sample") label *low income clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1998 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did keep if Incomegroup == "Low income" | Incomegroup == "Lower middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_low.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *1999 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 1999 keep if Incomegroup == "Low income" | Incomegroup == "Lower middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_low.xls, append stats(coef) ctitle("1999") title("ln investment full sample") label *2000 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2000 keep if Incomegroup == "Low income" | Incomegroup == "Lower middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_low.xls, append stats(coef) ctitle("2000") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2001 keep if Incomegroup == "Low income" | Incomegroup == "Lower middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_low.xls, append stats(coef) ctitle("2001") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2002 keep if Incomegroup == "Low income" | Incomegroup == "Lower middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_low.xls, append stats(coef) ctitle("2002") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2003 keep if Incomegroup == "Low income" | Incomegroup == "Lower middle income" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T3_low.xls, append stats(coef) ctitle("2003") title("ln investment full sample") label *V. Table 4: Differences excluding EU members clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1998 drop if EU1998 == 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *1999 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 1999 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("1999") title("ln investment full sample") label *2000 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2000 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("2000") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2001 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("2001") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2002 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("2002") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2003 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("2003") title("ln investment full sample") label *2004 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2004 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("2004") title("ln investment full sample") label *2005 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2005 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("2005") title("ln investment full sample") label *2006 clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 2006 drop if EU1998 == 1 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using T4_exclEU.xls, append stats(coef) ctitle("2006") title("ln investment full sample") label *VI. Figure 6: Placebo check / Table 13 (Appendix) *as if treaty was put into effect in 1991 clear set more off use completedata drop if sign_later == 1 drop if year < 1989 drop if year >1991 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1991) & !missing(year) //dummy time when placebo treatment started gen did = time*sign_1998 // interaction between time treated called did eststo: xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure6_Placebo.xls, replace stats(coef) ctitle("Placebo '91") title("ln investment FS Placebo treatment") label *as if treaty was put into effect in 1992 clear set more off use completedata drop if sign_later == 1 drop if year < 1990 drop if year >1992 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1992) & !missing(year) //dummy time when placebo treatment started gen did = time*sign_1998 // interaction between time treated called did eststo: xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure6_Placebo.xls, append stats(coef) ctitle("Placebo '92") title("ln investment FS Placebo treatment") label *as if treaty was put into effect in 1993 clear set more off use completedata drop if sign_later == 1 drop if year < 1991 drop if year >1993 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1993) & !missing(year) //dummy time when placebo treatment started gen did = time*sign_1998 // interaction between time treated called did eststo: xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure6_Placebo.xls, append stats(coef) ctitle("Placebo '93") title("ln investment FS Placebo treatment") label *as if treaty was put into effect in 1994 clear set more off use completedata drop if sign_later == 1 drop if year < 1992 drop if year >1994 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1994) & !missing(year) //dummy time when placebo treatment started gen did = time*sign_1998 // interaction between time treated called did eststo: xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure6_Placebo.xls, append stats(coef) ctitle("Placebo '94") title("ln investment FS Placebo treatment") label *as if treaty was put into effect in 1995 clear set more off use completedata drop if sign_later == 1 drop if year < 1993 drop if year >1995 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1995) & !missing(year) //dummy time when placebo treatment started gen did = time*sign_1998 // interaction between time treated called did eststo: xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure6_Placebo.xls, append stats(coef) ctitle("Placebo '95") title("ln investment FS Placebo treatment") label *as if treaty was put into effect in 1996 clear set more off use completedata drop if sign_later == 1 drop if year < 1994 drop if year >1996 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1996) & !missing(year) //dummy time when placebo treatment started gen did = time*sign_1998 // interaction between time treated called did eststo: xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure6_Placebo.xls, append stats(coef) ctitle("Placebo '96") title("ln investment FS Placebo treatment") label *as if treaty was put into effect in 1997 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 drop if year >1997 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1997) & !missing(year) //dummy time when placebo treatment started gen did = time*sign_1998 // interaction between time treated called did eststo: xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Figure6_Placebo.xls, append stats(coef) ctitle("Placebo '97") title("ln investment FS Placebo treatment") label *VII. Table 5: Robust Regression clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1998 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label rregfit *Effect in 1998 & 1999 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1999 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 2 years") title("ln investment full sample") label rregfit *Effect in 2000 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2000 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 3 years") title("ln investment full sample") label rregfit *2001 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2001 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 4 years") title("ln investment full sample") label rregfit *2002 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2002 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 5 years") title("ln investment full sample") label rregfit *2003 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2003 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 6 years") title("ln investment full sample") label rregfit *2004 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2004 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 7 years") title("ln investment full sample") label rregfit *2005 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2005 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 8 years") title("ln investment full sample") label rregfit *2006 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2006 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did rreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year i.country2 outreg2 using table7rregio.xls, append stats(coef) ctitle("after 9 years") title("ln investment full sample") label rregfit *VIII. Appendix A: Table 6 List of Countries in Sample *accumulated max countries clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1999 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) list country2 year sign_1998 if e(sample) == 1 *non-accumulated used countries clear set more off use completedata drop if sign_later == 1 keep if year == 1996 | year == 1997 | year == 1999 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) list country2 year sign_1998 if e(sample) == 1 *IX. Appendix C Table 7 clear set more off use completedata drop if sign_later == 1 drop if year < 1997 //base period 1996 & 1997 drop if year >1998 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *Effect in 1998 & 1999 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1999 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 2 years") title("ln investment full sample") label *Effect in 2000 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995-1997 drop if year >2000 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 3 years") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 drop if year < 1994 //base period 1994-1997 drop if year >2001 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) //not significant anymore outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 4 years") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 drop if year < 1993 //base period 1993-1997 drop if year >2002 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 5 years") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 drop if year < 1992 //base period 1996 & 1997 drop if year >2003 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 6 years") title("ln investment full sample") label *2004 clear set more off use completedata drop if sign_later == 1 drop if year < 1991 //base period 1996 & 1997 drop if year >2004 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 7 years") title("ln investment full sample") label *2005 clear set more off use completedata drop if sign_later == 1 drop if year < 1990 //base period 1996 & 1997 drop if year >2005 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 8 years") title("ln investment full sample") label *2006 clear set more off use completedata drop if sign_later == 1 drop if year < 1989 //base period 1996 & 1997 drop if year >2006 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table7_FStime_sym.xls, append stats(coef) ctitle("after 9 years") title("ln investment full sample") label *X. Appendix C Table 8: 3 year base period clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >1998 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *Effect in 1998 & 1999 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >1999 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 2 years") title("ln investment full sample") label *Effect in 2000 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2000 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 3 years") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2001 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 4 years") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2002 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 5 years") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2003 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 6 years") title("ln investment full sample") label *2004 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2004 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 7 years") title("ln investment full sample") label *2005 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2005 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 8 years") title("ln investment full sample") label *2006 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1996 & 1997 drop if year >2006 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 9 years") title("ln investment full sample") label *2007 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2007 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 10 years") title("ln investment full sample") label *2008 clear set more off use completedata drop if sign_later == 1 drop if year < 1995 //base period 1995, 1996 & 1997 drop if year >2007 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table8_3baseyears.xls, append stats(coef) ctitle("after 11 years") title("ln investment full sample") label *XI. Appendix C Table 9 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1998 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *Effect in 1998 & 1999 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1999 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 2 years") title("ln investment full sample") label *Effect in 2000 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2000 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 3 years") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2001 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 4 years") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2002 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 5 years") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2003 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 6 years") title("ln investment full sample") label *2004 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2004 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 7 years") title("ln investment full sample") label *2005 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2005 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 8 years") title("ln investment full sample") label *2006 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2006 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 9 years") title("ln investment full sample") label *2007 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2007 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 10 years") title("ln investment full sample") label *2008 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2008 drop if WTOmemberin1998 == 0 bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table9_exclWTO.xls, append stats(coef) ctitle("after 11 years") title("ln investment full sample") label *XII. Appendix Table 12: Excluding countries with regional treaties clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1998 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 0 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did label var lngdpcap "log GDP per Capita" label var did "diff-in-diff estimator" label var urban "% of urban population" label var lnpop "log population" label var polconiii "Polcon index 0-1" xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, replace stats(coef) ctitle("1998") title("ln investment full sample") label *Effect in 1998 & 1999 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >1999 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 2 years") title("ln investment full sample") label *Effect in 2000 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2000 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 3 years") title("ln investment full sample") label *2001 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2001 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 4 years") title("ln investment full sample") label *2002 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2002 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 5 years") title("ln investment full sample") label *2003 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2003 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 6 years") title("ln investment full sample") label *2004 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2004 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 7 years") title("ln investment full sample") label *2005 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2005 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 8 years") title("ln investment full sample") label *2006 clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2006 drop if EU1998 == 1 drop if country == "United States" drop if country == "Bolivia" drop if country == "Colombia" drop if country == "Peru" drop if country == "Argentina" drop if country == "Brazil" drop if country == "Chile" drop if country == "Paraguay" bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did xtreg lninv did time lngdpcapPPP polconiii lnpop fdi ioindex i.year, fe vce(robust) outreg2 using Table12_excl_regional.xls, append stats(coef) ctitle("after 9 years") title("ln investment full sample") label *XIII. Appendix Table 14: Additional controls clear set more off use completedata drop if sign_later == 1 drop if year < 1996 //base period 1996 & 1997 drop if year >2001 gen time = (year>=1998) & !missing(year) //dummy time when treatment started gen did = time*sign_1998 // interaction between time treated called did bysort country2(year) : gen todrop = 1 if missing(lninv) by country2: egen dropscore = total(todrop) by country2: drop if dropscore > 1 xtreg lninv did time lngdpcap i.year, fe vce(robust) outreg2 using table13_Controls.xls, replace stats(coef) title("ln investment full sample after 4 years") label xtreg lninv did time lngdpcap polconiii i.year, fe vce(robust) outreg2 using table13_Controls.xls, append stats(coef) title("ln investment full sample after 4 years") label xtreg lninv did time lngdpcap ioindex i.year, fe vce(robust) outreg2 using table13_Controls.xls, append stats(coef) title("ln investment full sample after 4 years") label xtreg lninv did time lngdpcap polconiii ioindex lnpop lngdp i.year, fe vce(robust) outreg2 using table13_Controls.xls, append stats(coef) title("ln investment full sample after 4 years") label xtreg lninv did time lngdpcap polconiii ioindex fdi lnpop lngdp urban i.year, fe vce(robust) outreg2 using table13_Controls.xls, append stats(coef) title("ln investment full sample after 4 years") label xtreg lninv did time lngdpcap ioindex lnpop lngdp urban i.year, fe vce(robust) outreg2 using table13_Controls.xls, append stats(coef) title("ln investment full sample after 4 years") label xtreg lninv did time lngdpcap polconiii lnpop lngdp urban fdi hc i.year, fe vce(robust) outreg2 using table13_Controls.xls, append stats(coef) title("ln investment full sample after 4 years") label