Monday, April 18, 2022 12:00 PM to 1:00 PM KST
Mason Korea (119 Songdomunhwa-ro, Yeonsu-gu, Incheon, Korea), Zoom
Dr. Garett Jones, Associate Professor, Department of Economics, George Mason University, Fairfax
In the NYT best-selling graphic novel Open Borders, coauthored by GMU's Bryan Caplan, Caplan critiques the Deep Roots literature. In one set of estimates Caplan reweights some standard cross-country regression estimates by national population, thereby giving about one- sixth of all estimation weight to China and India. Previous estimates-as in Putterman and Weil (QJE 2010) or Spolaore and Wacziarg (JEL 2013) had shown that some ancestral traits like experience with agriculture or experience living under organized states were robust predictors of modern GDP per capita; but Caplan's population weighting made those ancestral traits statistically insignificant. Accepting Caplan's population weighting for the sake of argument, I find that either running theoretically better motivated growth regressions in lieu of GDP levels regressions or using the Comin, Easterly, Gong (AEJ:M 2010) Tech History index as the measure of ancestral traits restores the previous statistical significance with large coefficients.