# **Table A.11 Matching Estimates for the Share of Projects Rated MS+: PSM versus Non-PSM Projects**

||PSM Projects (b|roadly defined)|PSM Projec|ts (narrowly defined)|
|---|---|---|---|---|
||Nearest Neighbor Matching Estimates|Coarsened Exact Matching Estimates|Nearest Neighbor<br>MatchingEstimates|Coarsened Exact Matching<br>Estimates|
|Average Treatment Effect on the Treated (ATET)|-0.0153|-0.017|-0.00905|-0.018|
||(0.0199)|(0.018)|(0.0402)|(0.040)|
|Constant||0.706***||0.699***|
|||(0.011)||(0.016)|
|Observations|3,008|2,717|2,131|1,019|
|Percent Exact Country Matches|93.8%|100%|93.74%|100%|
|Standard errors in parentheses<br>***p<0.01,**p<0.05,*p<0.1|||||

_Note:_ For this and the following tables, reported ATET estimates are based on nearest neighbor matching with exact matching by country (share of exact matches reported) and nearest neighbor matching by approval FY. For details on the matching algorithm, see Abadie and others (2004). Coarsened exact matching estimates are with strata defined by country and four-year brackets (1990 to 1993, 1994 to 1997, 1998 to 2001, 2002 following). For details on the matching algorithm, see Blackwell and others (2009).

**Table A.12 Matching Estimates for the Share of Projects Rated MS+ in Nonfree, Partially Free, and Free Countries (based on Freedom House scores): PSM Projects versus Non-PSM Projects**

||N|earest Neighbor Matching Esti|mates|Coar|sened Exact Matching Estimat|es|
|---|---|---|---|---|---|---|
||(1)<br>Nonfree<br>Countries IEG<br>Outcome Rating<br>[binary]|(2)<br>Partially Free Countries<br>IEG Outcome Rating<br>[binary]|(3)<br>Free Countries IEG<br>Outcome Rating<br>[binary]|(4)<br>Nonfree Countries IEG<br>Outcome Rating<br>[binary]|(5)<br>Partially Free Countries<br>IEG Outcome Rating<br>[binary]|(6)<br>Free Countries IEG<br>Outcome Rating<br>[binary]|
|Average Treatment Effect<br>on the Treated|-0.0838**|0.000811|0.00236|-0.071*|0.017|0.017|
||(0.0414)|(0.0266)|(0.0433)|(0.039)|(0.025)|(0.040)|
|Constant||||0.650***|0.710***|0.716***|
|||||(0.021)|(0.016)|(0.025)|
|Observations|847|1,514|644|730|1,349|539|
|Percent Exact Country<br>|92.71%|93.16%|92.4%|100%|100%|100%|
|Matches|||||||
|Standard errors in parenthese<br>*** p<0.01, ** p<0.05, * p<0|s<br>.1||||||

_Note:_ IEG = International Evaluation Group.

**Table A.13 Matching Estimates for the Share of Projects rated MS+ in Autocratic, Anocratic, and Democratic Regimes (based on Polity Scores): PSM versus Non-PSM Projects**

||Nea<br>(1)<br>Autocratic Regimes<br>IEG Outcome<br>Rating [binary]|rest Neighbor Matching Es<br>(2)<br>Anocratic Regimes<br>IEG Outcome Rating<br>[binary]|timates<br>(3)<br>Democratic Regimes<br>IEG Outcome Rating<br>[binary]|Coarse<br>(4)<br>Autocratic Regimes<br>IEG Outcome Rating<br>[binary]|ned Exact Matching Estima<br>(5)<br>Anocratic Regimes<br>IEG Outcome Rating<br>[binary]|tes<br>(6)<br>Democratic Regimes<br>IEG Outcome Rating<br>[binary]|
|---|---|---|---|---|---|---|
|Average Treatment<br>Effect on the Treated|-0.0348|-0.0306|-0.00975|0.015|-0.044|0.008|
||(0.0523)|(0.0325)|(0.0292)|(0.047)|(0.032)|(0.026)|
|Constant||||0.596***|0.708***|0.747***|
|||||(0.024)|(0.021)|(0.016)|
|Observations|668|1,012|1,283|576|872|1,168|
|Percent Exact Country<br>Matches|89.66%|92.87%|95.41%|100%|100%|100%|
|Standard errors in parenth<br>*** p<0.01, ** p<0.05, *|eses<br>p<0.1||||||

_Note:_ IEG = International Evaluation Group.

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