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Table 10 Control of corruption and FDI

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

Variables Low Income Countries Lower Middle income Countries High Income Countries Upper middle income countries
FEM GMM FEM GMM FEM GMM FEM GMM
(lnFDI)t − 1   0.479a (0.000)   0.619a (0.000)   0.313a (0.000)   0.604a (0.001)
Trade 0.010 (0.850) 0.050a (0.002) 0.075a (0.000) 0.023a (0.000) 0.134a (0.000) 0.019a (0.000) 0.037 (0.403) 0.047a (0.010)
lnMobile -0.437 (0.217) 0.364c (0.075) 0.069 (0.511) 0.092 (0.279) 0.815a (0.000) 0.037 (0.761) 3.151b (0.014) -0.051 (0.899)
LnGDP per capita 12.734 (0.217) 14.232b (0.032) -0.634 (0.599) 12.563a (0.002) -8.873 (0.120) 3.445 (0.110) 9.145 (0.289) 4.606 (0.233)
Inflation 0.0001c (0.065) 0.0001 (0.920) 0.017 (0.341) -0.060b (0.017) 0.000 (0.954) -0.032 (0.115) 0.350 (0.244) -0.298c (0.065)
Agriculture value added -0.506b (0.015) 0.046 (0.242) -0.096b (0.042) -0.021 (0.406) -0.166 (0.179) -0.086 (0.157) 0.017 (0.990) 0.128 (0.560)
Control over Corruption 3.584 (0.293) 0.011c (0.083) 0.471 (0.537) 0.076c (0.096) 0.439 (0.629) 5.611b (0.017) 2.295b (0.013) 4.438c (0.103)
Constant 58.560 (0.291) 18.653b (0.038) 4.058 (0.669) 2.407c (0.105) 8.574a (0.000) 13.125c (0.081) 7.295 (0.408) 9.540b (0.046)
AR(1)   0.000   0.000 0.385 0.000   0.040
AR(2)   0.635   0.341   0.359   0.215
Sargan   0.102   0.428   0.175   0.13
  1. Note: a, b and c denote significance at 1%, 5% and 10% level respectively. Parenthesis show P-values