**<u>Table 8</u>** <u>: Instrumental Variables Estimation using Infant Mortality as an Instrument for Life Expectancy at Birth</u>

||**Pooled**|**sample**|**M**|**ale**|**Fe**|**male**|**Ur**|**ban**|**R**|**ural**|
|---|---|---|---|---|---|---|---|---|---|---|
||Stage 1|Stage 2|Stage 1|Stage 2|Stage 1|Stage 2|Stage 1|Stage 2|Stage 1|Stage 2|
|**_Panel a: Dependent_**|<br>**_Variable in_**|<br>**_Stage 1 is_**|<br>**_life expect_**|<br>**_ancy at birt_**|<br>**_h; in stage_**|<br>**_2, years of c_**|<br>**_ompleted s_**|<br>**_chooling_**|||
|Death rate for|**-0.864*****||**-0.848*****||**-0.889*****||**-0.791*****||**-0.954*****||
|under-5 children|[0.106]||[0.116]||[0.088]||[0.095]||[0.113]||
|Life expectancy at||**0.146*****||**0.138*****||**0.176*****||**0.128*****||**0.152*****|
|birth||[0.028]||[0.028]||[0.036]||[0.032]||[0.029]|
|Parents’ life|**-0.117*****|**0.039*****|**-0.122*****|**0.040****|**-0.110*****|**0.034*****|**-0.079****|**0.042*****|**-0.163*****|**0.038****|
|expectancy|[0.037]|[0.014]|[0.037]|[0.016]|[0.038]|[0.012]|[0.037]|[0.012]|[0.046]|[0.018]|
|Urban|0.006|-1.520***|0.011**|-1.698***|-0.003|-1.186**|||||
||[0.004]|[0.580]|[0.005]|[0.583]|[0.005]|[0.489]|||||
|Gender|<br>0.009|<br>0.278**|||||0.010*|0.316***|0.008|0.14|
||[0.005]|[0.117]|||||[0.006]|[0.091]|[0.007]|[0.214]|
|First Stage F-<br>|67.067||53.721||101.876||69.877||71.851||
|Statistic (Weak<br>Identification Test)|||||||||||
|**_Panel b: Correspon_**|**_ding OLS E_**|**_stimates (Li_**|**_fe expecta_**|**_ncy at birth_**|**_is exogen_**|**_ous for indiv_**|**_idual scho_**|**_oling)_**|||
|Life expectancy at||**0.113*****||**0.103*****||**0.141*****||**0.090*****||**0.124*****|
|birth||[0.02]||[0.02]||[0.04]||[0.02]||[0.03]|
|Parents’ life||**0.037****||**0.036****||**0.032****||**0.042*****||**0.031***|
|exectanc||[001]||[002]||[001]||[001]||[002]|
|py||.||.||.||.||.|
|**_Panel c: Dependent_**|**_Variable in_**|**_Stage 1 is l_**|**_ife expecta_**|**_ncy at birt_**|**_h, in stage_**|**_2, it is log of_**|**_wage_**||||
|Death rate for|**-0.818*****||**-0.807*****||**-0.835*****||**-0.752*****||**-0.900*****||
|under-5 children|[0.087]||[0.092]||[0.081]||[0.072]||[0.105]||
|Life expectancy at||**0.017*****||**0.024*****||**0.013*****||**0.018*****||**0.014****|
|<br>birth||[0.005]||[0.008]||[0.004]||[0.005]||[0.007]|
|Parents’ life|**-0.092****|**0.007*****|**-0.099****|**0.009*****|**-0.082***|**0.003*****|**-0.06**|**0.007*****|**-0.130****|**0.007***|
|expectancy|[0.046]|[0.002]|[0.048]|[0.003]|[0.043]|[0.001]|[0.040]|[0.001]|[0.062]|[0.004]|
|<br>Urban|<br>0.002|<br>-0.361***|<br>0.006|<br>-0.352***|<br>-0.005|<br>-0.352***|||||
||[0.003]|[0.063]|[0.004]|[0.071]|[0.006]|[0.046]|||||
|Individual age|-0.077|0.074***|-0.094|0.085***|-0.056|0.055***|-0.062|0.079***|-0.098|0.061***|
||[0.088]|[0.009]|[0.100]|[0.012]|[0.072]|[0.008]|[0.091]|[0.009]|[0.099]|[0.011]|
|Individual age-|-0.002*|-0.001***|-0.002*|-0.001***|-0.002**|-0.001***|-0.002*|-0.001***|-0.002*|-0.001***|
|<br>squared|[0.001]|[0.000]|[0.001]|[0.000]|[0.001]|[0.000]|[0.001]|[0.000]|[0.001]|[0.000]|
|Gender|0.011|-0.415***|||||0.011*|-0.387***|0.014|-0.476***|
||[0.007]|[0.060]|||||[0.006]|[0.057]|[0.012]|[0.072]|
|Married|<br>0.035|<br>0.123***|0.044|0.258***|0.031|-0.038|<br>0.017|<br>0.121***|<br>0.053|<br>0.124***|
||[0.029]|[0.014]|[0.033]|[0.050]|[0.031]|[0.028]|[0.020]|[0.012]|[0.039]|[0.022]|
|Cohort size|11.325*|-2.645***|10.407**|-2.894***|13.286*|-1.370**|8.9|-2.821***|13.778*|-1.833***|
||[5824]|[0531]|[5076]|[0539]|[7778]|[0621]|[5476]|[0695]|[7399]|[0204]|
|First Stage F-<br>|.<br>95.603|.|.<br>83.083|.|.<br>**114.28**|.|.<br>108.877|.|.<br>73.451|.|
|Statistic (Weak|||||||||||
|Identification Test)|||||||||||
|**_Panel d: Correspon_**|**_ding OLS E_**|**_stimates (Li_**|**_fe expecta_**|**_ncy at birth_**|**_is exogen_**|**_ous for indiv_**|**_idual wag_**|**_e earnings)_**|||
|Life expectancy at||**0.012*****||**0.015*****||**0.011*****||**0.011*****||**0.011****|
|birth||[0.00]||[0.01]||[0.00]||[0.00]||[0.00]|
|Parents’ life||**0.006*****||**0.009*****||**0.003*****||**0.007*****||**0.006***|
|expectancy||[0.00]||[0.00]||[0.00]||[0.00]||[0.00]|

Note: Standard errors reported in brackets are clustered at the country level. Significance levels: * _p_ < 0.1, ** _p_ < 0.05, *** _p_ < 0.01. All covariates are at the individual level except life expectancy at birth and infant mortality rate, which are birth-year level means. All of the specifications include country fixed effects and birth year fixed effects. Specifications under panel (b) & (d) are to facilitate comparison with estimates obtained from IV and reported in panels (a) and (c).

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