Description Usage Format Source See Also

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.

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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*.

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.

`panelAR`

. Run `demo(BrooksKurtz)`

for examples which use `BrooksKurtz`

.

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