Yet another tale of two cities: Buenos Aires and Chicago

Latin American Economic Review

Table 4 Nineteenth century variables and twentieth century democratic institutions

	(1)	(2)	(3)	(4)	(5)
Dependent variable: average Polity2 score 1970–2000
Log GDP per capita 1900	5.365*** [1.26]				− 1.17 [2.17]
Schooling (All levels) 1900		57.10*** [9.81]			51.98** [21.63]
Manufacturing share of output circa 1913			0.169** [0.070]
Average Polity2 score 1870–1900				0.514*** [0.12]	0.12 [0.144]
Observations	36	34	15	48	23
R-squared	0.358	0.465	0.251	0.219	0.38

Source: Own elaboration based on Madison, Marshall and Jaggers, Banks, and other sources
Robust standard errors in brackets ***p < 0.01, **p < 0.05, *p < 0.1