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3. Second Stage Regression [45 marks. each sub-question carries equal marks] [3a] Finatly, using Excel's Regression Tool again. perform the regression of lrgdppc on fit_proc*exp1

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3. Second Stage Regression [45 marks. each sub-question carries equal marks] [3a] Finatly, using Excel's Regression Tool again. perform the regression of lrgdppc on fit_proc*exp1 and an intercept. Place the results on a new worksheet labelled 'second_stage1'. {so} Interpret the coefcient on protection from expropriation. What does it imply about the effect of property.r right protections on real income per capita (recall that real income is logged in the regression}? How does it compare to the estimated effect you found in Problem Set 5, question 2'? Is it larger. smaller. or the same? {So} ls the coefficient on tted protection from expropriation statistically significant? How does its statistical significance compare to that found in Problem Set 5. question 2'? What does this mean

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