Notes: The table only reports major findings; detailed regression results are available upon request. Standard error in parenthesis. Dependent variable: output per working-age person in 1985 (in column (4): growth rate of output per working-age person in 1960–85). IV regressions use settler mortality as an instrumental variable. All data taken from MRW except for expropriation risk and settler mortality, which are taken from Acemoglu et al. (AJR, 2001).