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 |