Supporting agriculture in developing countries: new insights on the impact of official development assistance using a climate perspective

Agricultural and Food Economics

Table 2 Effects of total agricultural aid on TFP

TFP (log)	Total aid (adaptation + mitigation)
	Total value (log)		Number of projects		Average value (log)
	(1)	(2)	(1)	(2)	(1)	(2)
Agricultural aid (L2)		0.039**		0.018***		0.064*
		(0.02)		(0.01)		(0.04)
Instrument (L2)	18.187***		39.212***		11.052**
	(5.65)		(6.19)		(5.23)
Country FE	Yes	Yes	Yes	Yes	Yes	Yes
Time FE	Yes	Yes	Yes	Yes	Yes	Yes
Under identification		9.65		33.29		4.33
Weak identification		10.37		40.09		4.46
N	1170	1170	1170	1170	1170	1170

Note: Robust standard errors in parentheses. Statistical significance: *** 1%; ** 5%, * 10%. FE stands for fixed effects. The instrument is the US industrial production index (log value, 2-year lag) multiplied by the country’s average probability of receiving aid