//****Deleted all the computer pathways for anonymity purposes**** cd //ssc install wbopendata //ssc install estout wbopendata, indicator("NY.GDP.PCAP.PP.CD; NY.GDP.MKTP.CD; FR.INR.RINR") long clear ren countryname Country ren year Year save data_wb, replace import excel "GlobalAidData-ChineseLoans_v2.xlsx", sheet("Global_CDF2.0 (hidden)") firstrow clear keep Recipient CommitmentYear Maturity InterestRate GracePeriod collapse (mean) Maturity InterestRate GracePeriod, by(Recipient CommitmentYear) ren Recipient Country ren CommitmentYear Year save maturity, replace * load and clean regime data import excel "Bjørnskov-Rode-integrated-dataset-v3.2.xlsx", sheet("Regime characteristics") firstrow clear keep country countryisocode year DDregime DDcategory ren country Country ren year Year replace Country = "Virgin Islands (U.S.)" if Country == "US Virgin Islands" replace Country = "Viet Nam" if Country == "Vietnam" replace Country = "Turks and Caicos Islands" if Country == "Turks and Caicos" replace Country = "Trinidad and Tobago" if Country == "Trinidad &Tobago" replace Country = "Syrian Arab Republic" if Country == "Syria" replace Country = "St. Vincent and the Grenadines" if Country == "St.Vincent & Grenadines" replace Country = "St. Kitts and Nevis" if Country == "St. Kitts & Nevis" replace Country = "Sint Maarten (Dutch part)" if Country == "Sint Maarten" replace Country = "Saint Lucia" if Country == "St. Lucia" replace Country = "Micronesia" if Country == "Micronesia, Fed. Sts." replace Country = "Lao People's Democratic Republic" if Country == "Laos" replace Country = "Kyrgyz Republic" if Country == "Kyrgyzstan" replace Country = "Gambia" if Country == "Gambia, The" replace Country = "Eswatini" if Country == "Swaziland" replace Country = "Democratic Republic of the Congo" if Country == "Congo, Dem. Rep." replace Country = "Congo" if Country == "Congo, Republic of" replace Country = "Cabo Verde" if Country == "Cape Verde" replace Country = "Brunei Darussalam" if Country == "Brunei" replace Country = "American Samoa" if Country == "Samoa" * limit the year span to 2000-2017 keep if inrange(Year,2000,2017) save data_regime, replace *------------------------------------------------------------------------------- * clean main data import excel "Dataset.xlsx", sheet("Sheet1") clear firstrow * limit the year span to 2000-2017 keep if inrange(Year,2000,2017) * merge in regime data merge 1:1 Country Year using data_regime tabulate Country _merge keep if _merge == 3 drop _merge merge 1:1 Country Year using maturity drop if _merge == 2 drop _merge merge 1:1 Country Year using data_wb drop if _merge == 2 drop _merge * year prior to election dummy replace IfLoanPriorYeartoElection = "" if IfLoanPriorYeartoElection == "Boundary" destring IfLoanPriorYeartoElection, replace generate PriorDum = !missing(IfLoanPriorYeartoElection) * year of election dummy replace IfLoanYearofElection = "" if IfLoanYearofElection == "Boundary" destring IfLoanYearofElection, replace generate YearOfDum = !missing(IfLoanYearofElection) * either of the two egen IfEitherYearDum = rowmax(PriorDum YearOfDum) * was there an election destring Wasthereanelection, replace * save the data save data_clean_2, replace gen logSumLoans = log(SUMIFLoanAmt) replace logSumLoans=0 if logSumLoans==. * sum of loans scaled by gdp g loans_scaled = SUMIFLoanAmt / ny_gdp_mktp_cd winsor2 loans_scaled, cuts(0 99) encode incomelevelname, g(income) g ln_gdp_pcap = ln(ny_gdp_pcap_pp_cd) gen logSumLoans_scaled = log(loans_scaled) save clear import excel firstrow reshape long Imports Exports, i( Country ) j(Year) merge 1:1 Country Year using drop if _merge==1 encode Country, gen(Country_Code) tsset Country_Code Year, yearly gen log_Exports=ln(Exports) gen log_Imports=ln(Imports) winsor2 ofDeals , cuts(0 99) drop _merge save, replace clear import excel , sheet("Sheet1") firstrow clear destring Corruption2000- Voice2017 , replace reshape long Corruption Voice, i( Country ) j(Year) sum Corruption Voice merge 1:1 Country Year using drop _merge gen Interaction= IfEitherYearDum*Voice gen GDP_Per_Capita=exp(ln_gdp_pcap) gen Loan_Amount_Million=SUMIFLoanAmt/1000000 save , replace use collapse (sum) ofDeals_w ofDeals , by(Year) twoway (connected ofDeals_w Year) graph save "Graph" clear use collapse loans_scaled loans_scaled_w, by(Year) twoway (connected loans_scaled_w Year) graph save "Graph" clear use graph bar (mean) loans_scaled_w, over(IfEitherYearDum) graph bar (mean) Loan_Amount_Million, over(IfEitherYearDum) graph save "Graph" graph bar (mean) ofDeals, over(IfEitherYearDum) graph save "Graph" graph bar (mean) Loan_Amount_Million, over(DDregime) clear use keep if IfEitherYearDum==1 collapse ofDeals_w Voice, by( Year) graph twoway (lfit ofDeals_w Voice) (scatter ofDeals_w Voice) graph save clear use keep if IfEitherYearDum==0 collapse ofDeals_w Voice, by( Year) graph twoway (lfit ofDeals_w Voice) (scatter ofDeals_w Voice) graph save gr combine graph save clear use keep if IfEitherYearDum==1 collapse loans_scaled_w Voice, by( Year) graph twoway (lfit loans_scaled_w Voice) (scatter loans_scaled_w Voice) graph save "Graph" clear use keep if IfEitherYearDum==0 collapse loans_scaled_w Voice, by( Year) graph twoway (lfit loans_scaled_w Voice) (scatter loans_scaled_w Voice) graph save "Graph" gr combine graph save "Graph" clear use xtreg ofDeals_w IfEitherYearDum i.DDregime Interaction log_Exports log_Imports ln_gdp_pcap Voice , fe estimate store FE1 xtreg ofDeals_w IfEitherYearDum i.DDregime Interaction log_Exports log_Imports ln_gdp_pcap Voice ,re estimate store RE1 hausman RE1 FE1 **Fixed Effect Model xtreg loans_scaled_w IfEitherYearDum i.DDregime Interaction log_Exports log_Imports ln_gdp_pcap Voice , fe estimate store FE2 xtreg loans_scaled_w IfEitherYearDum i.DDregime Interaction log_Exports log_Imports ln_gdp_pcap Voice , re estimate store RE2 hausman FE2 RE2 **Fixed Effect Model xtreg ofDeals_w IfEitherYearDum i.DDregime log_Exports log_Imports ln_gdp_pcap , fe cluster(Country_Code) outreg2 using myreg.doc, replace ctitle(Model 1) xtreg loans_scaled_w IfEitherYearDum i.DDregime log_Exports log_Imports ln_gdp_pcap , fe cluster(Country_Code) outreg2 using myreg.doc, append ctitle(Model 2) ***Final Models************** xtreg ofDeals_w IfEitherYearDum , fe cluster(Country_Code) outreg2 using myreg.doc, replace ctitle(Model 1) xtreg ofDeals_w IfEitherYearDum ln_gdp_pcap , fe cluster(Country_Code) outreg2 using myreg.doc, append ctitle(Model 2) xtreg ofDeals_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports , fe cluster(Country_Code) outreg2 using myreg.doc, append ctitle(Model 3) xtreg ofDeals_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports i.DDregime Voice , fe cluster(Country_Code) outreg2 using myreg.doc, append ctitle(Model 4) xtreg ofDeals_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports i.DDregime Voice Interaction , fe cluster(Country_Code) outreg2 using myreg.doc, append ctitle(Model 5) xtreg loans_scaled_w IfEitherYearDum , fe robust outreg2 using myreg.doc, replace ctitle(Model 1) xtreg loans_scaled_w IfEitherYearDum ln_gdp_pcap , fe robust outreg2 using myreg.doc, append ctitle(Model 2) xtreg loans_scaled_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports , fe robust outreg2 using myreg.doc, append ctitle(Model 3) xtreg loans_scaled_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports i.DDregime Voice , fe robust outreg2 using myreg.doc, append ctitle(Model 4) xtreg loans_scaled_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports i.DDregime Voice Interaction , fe robust outreg2 using myreg.doc, append ctitle(Model 5) **Dignostics*** xtserial ofDeals_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports DDregime Voice Interaction xtreg ofDeals_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports i.DDregime Voice Interaction , fe xttest3 xtserial loans_scaled_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports DDregime Voice xtreg loans_scaled_w IfEitherYearDum ln_gdp_pcap log_Exports log_Imports i.DDregime Voice Interaction , fe xttest3 ****Robustness Check xtreg ofDeals_w IfEitherYearDum GDP_Per_Capita Exports Imports i.DDregime Voice , fe robust outreg2 using myreg.doc, replace ctitle(Model Number of Deals) xtreg loans_scaled_w IfEitherYearDum GDP_Per_Capita Exports Imports i.DDregime Voice , fe robust outreg2 using myreg.doc, append ctitle(Model Loan Amounts)