Average direct impacts of protection by tenure regime, proxied by the average treatment effect on the treated (ATT).

The observations falling within protected areas (treatment) are compared to observationally similar unprotected pixels (control) in properties not intersecting a protected area. The standard errors are given in parentheses and confidence intervals corresponding to each significance level—in square brackets. nt, nmc, ncp indicate treated (on support), matched control, and control pool observations, respectively. A negative sign of the ATT indicates that protection reduced the probability of forest loss.