Notice that the independent variables are all observed at period t-5 corresponding to the starting point of the change in the level of economic freedom.
As is customary in this line of research (e.g., see Boix, Miller, and Rosato 2012; and Mainwaring and Perez-Linan 2013), I define country i as democratic in period t-5 if Polity2 is greater than or equal to 5.
Consistent with the literature, I define country i in period t-5 as democratic if it is classified as "Free." Conversely, I define country i in period t-5 as autocratic if it is classified as "Not Free."
While using the t-5 lagged value of PRC minimizes a potential endogeneity bias, it does introduce another complication.
1996; Adsera, Boix, and Payne 2003; and de Haan and Sturm 2003), I use the level of GDP per capita and its growth rate at period t-5 as control variables.
In Column 2, I pooled together all countries for which data were available (this includes countries that were not characterized as democratic or autocratic at t-5, i.e., countries for which their Polity2 values at t-5 fell between -5 and 5).
Castings poured from liquid A356/357 type alloys have good ductility in the as cast condition, but if they are given a T-5 heat treatment, they lose up to hall of that material property.
Because of their unique microstructure and semi-solid processing conditions, SSM castings can be given that T-5 heat treatment and still retain their high as-cast ductility.