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Table 1 Estimation Results for Developing Countries

From: Institutions and FDI: evidence from developed and developing countries

Variables Low Income Countries Lower Middle income Countries
FEM GMM FEM GMM
lnFDI(t-1)   0.471a (0.000)   0.596a (0.000)
Trade 0.005 (0.927) 0.037b (0.020) 0.074a (0.000) 0.021a (0.000)
lnMobile 0.306 (0.285) 0.384c (0.060) 0.078 (0.449) 0.096c (0.101)
LnGDP per capita 10.776 (0.191) 15.527b (0.023) 0.841b (0.047) 8.603b (0.048)
Inflation −0.0002 (0.087) − 0.003 (0.977) − 0.017 (0.343) −0.008 (0.567)
Agriculture value added 0.466b (0.011) 0.043 (0.248) 0.101b (0.031) 0.009a (0.001)
Institutional Index 0.354b (0.816) 2.027b (0.022) 0.471b (0.339) 2.580b (0.021)
Constant 45.263b (0.039) 17.879b (0.044) 6.254b (0.048) 7.658b (0.018)
AR(1)   0.000   0.000
AR(2)   0.120   0.117
Sargan   0.234   0.721
  1. Note: a, b and c denote significance at the 1%, 5% and 10% levels, respectively. Parentheses show P-values