	(1)	(2)	(3)
VARIABLES	rwVol2a	rwVol2a	rwVol2a
			
L.rwVol2a	-0.0926	-0.1423***	-0.0752
	(0.0591)	(0.0529)	(0.0621)
i_gdprl_f	-0.0001	0.0009	-0.0004
	(0.0014)	(0.0009)	(0.0014)
log_ACT_maps_total_5y_A5	-0.0076**		
	(0.0033)		
FD_A5	-0.0501***	-0.0445***	-0.0461***
	(0.0080)	(0.0066)	(0.0075)
kaopen_A5	-0.0001	-0.0004	-0.0002
	(0.0008)	(0.0008)	(0.0008)
FD_MP_log_ACT_maps_total_5y_A5	0.0175***		
	(0.0057)		
ACT_maps_total_claims_S_A5	-0.0379***		
	(0.0110)		
ACT_maps_total_Trade_M_A5	0.0128**		
	(0.0060)		
log_Schooling_A5	0.0080	0.0068*	0.0095
	(0.0090)	(0.0035)	(0.0093)
log_govCons_A5	-0.0144***	-0.0157***	-0.0147***
	(0.0045)	(0.0028)	(0.0045)
inflation_defl_A5	0.0015	0.0012*	0.0017*
	(0.0009)	(0.0006)	(0.0010)
IndSupFT	0.0008		0.0007
	(0.0020)		(0.0021)
realIR_A5	-0.0001	-0.0001	-0.0001
	(0.0001)	(0.0001)	(0.0001)
ote_A5	-0.0000***	-0.0000***	-0.0000***
	(0.0000)	(0.0000)	(0.0000)
indWB101_A5	0.0239***	0.0229***	0.0232***
	(0.0066)	(0.0042)	(0.0068)
years_1990_1994	0.0087*	0.0057	0.0096**
	(0.0050)	(0.0134)	(0.0047)
years_1995_1999	0.0037	0.0093	0.0021
	(0.0045)	(0.0137)	(0.0035)
years_2000_2004	0.0033	0.0061	0.0010
	(0.0044)	(0.0131)	(0.0033)
years_2005_2009	0.0139**	0.0160	0.0110***
	(0.0064)	(0.0114)	(0.0022)
years_2010_2014	0.0143		
	(0.0106)		
log_ACT_res_5y_A5		-0.0154***	
		(0.0044)	
FD_MP_log_ACT_res_5y_A5		0.0250***	
		(0.0089)	
ACT_res_claims_S_A5		-0.0666***	
		(0.0220)	
ACT_res_Trade_M_A5		0.0935***	
		(0.0206)	
IndSupPol		-0.0006	
		(0.0019)	
years_1985_1989		0.0083	-0.0039
		(0.0141)	(0.0064)
log_ACT_cycl_5y_A5			-0.0062*
			(0.0034)
FD_MP_log_ACT_cycl_5y_A5			0.0172***
			(0.0057)
ACT_cycl_claims_S_A5			-0.0519***
			(0.0124)
ACT_cycl_Trade_M_A5			0.0109*
			(0.0065)
Constant	0.0708***	0.0601***	0.0731***
	(0.0140)	(0.0175)	(0.0175)
			
Observations	343	343	343
Number of newid	64	64	64
Robust standard errors in parentheses			
*** p<0.01, ** p<0.05, * p<0.1			
