Plausibly Exogenous [1840] - Monarchy (02/15/2025)

LHS Variable
State-level outcomes

RHS Variable
Rulers’ cognitive ability

Source of Exogenous Variation
Two sources of quasi-random variation in ruler ability: (i) rulers were appointed according to hereditary succession, independent of their ability, and (ii) wide-spread inbreeding among the ruling dynasties of Europe led over centuries

- Ottinger and Voigtlander (2022), “History’s Masters: The Effect of European Monarchs on State Performance”