Skip to main content

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