Description

Replication data for Brooks and Kurtz (2012). Data structure is panels of Latin American countries from 1983-2007. Data contains measurements of capital account openness, capital account openness diffusion variables, and a variety of economic and financial controls.

Usage

Format

A dataframe with the following variables:

• country: country identifier (string).

• conum: country identifier (numeric).

• year: year identifier.

Dependent variable:

• kaopen: capital account openness. Higher value indicates more open capital account.

Diffusion variables, constructed to be a weighted average of the lagged outcome variable for all countries in a given government's “neighborhood”. Proximity is defined via a weight matrix W such that the diffusion variable is constructed as WY_{t-1}. The weight matrix differs across the following diffusion variables. See pages 112-114 of Brooks and Kurtz (2012) for details.

• ldiffpeer: baseline diffusion effect / all countries diffusion variable.

• ldiffisi: import-substituting industrialization (ISI) peer diffusion variable.

• ldiffgrowth: economic success diffusion variable.

• ldiffinflation: inflation performance diffusion variable.

• ldiffneg: negative learning diffusion variable.

• ldiffembi: competition diffusion variable

• limf: dummy variable that is equal to 1 if a country entered into an agreement with the IMF at time t-1.

Controls:

• isi_objective: dummy variable for country-years with ISI policy.

• partisan: partisanship coded as 0 for leftist, 1 for centrist, and 2 for conservative governments.

• checks: checks on authority.

• y1995: dummy for year 1995.

• lngdpcap: log of GDP per capita.

• lngdp: log of GDP.

• timetrend: linear time trend.

• brk: dummy for structural break in the data source for kaopen in 1996.

• lusffr: US federal funds rate at time t-1.

• linflation: log of inflation at time t-1.

• lbankra: bank reserve-to-asset ratio at time t-1.

• lcab: current account deficit at time t-1.

• lgrowth: growth of per capita GDP at time t-1.

• ltradebalance: trade deficit at time t-1.

Source

Brooks, Sarah M. and Marcus J. Kurtz. 2012. “Paths to Financial Policy Diffusion: Statist Legacies in Latin America's Globalization.” International Organization 66:95-128.

See Also

panelAR. Run demo(BrooksKurtz) for examples which use BrooksKurtz.