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 | 0.257a (0.000) | 0.634a (0.000) | 0.361a (0.000) | 0.594a (0.003) | ||||
trade | 0.007a (0.004) | 0.080a (0.000) | 0.072a (0.000) | 0.023a (0.000) | 0.134a (0.000) | 0.011b (0.020) | 0.040 (0.364) | 0.044b (0.038) |
lnMobile | 0.356b (0.023) | 0.420b (0.036) | 0.135 (0.227) | 0.012 (0.893) | 0.816a (0.000) | 0.053 (0.649) | 2.866b (0.028) | 0.003 (0.992) |
LnGDP per capita | 11.900a (0.002) | 8.534a (0.000) | -1.252 (0.303) | 2.343a (0.010) | -8.908a (0.000) | 3.623a (0.000) | 6.739 (0.438) | 2.890c (0.105) |
inflation | 0.0001c (0.084) | -0.001 (0.971) | 0.021 (0.252) | -0.015 (0.396) | -0.002 (0.963) | -0.037c (0.051) | 0.368 (0.229) | -0.216c (0.104) |
agriculture | -0.499b (0.013) | 0.102c (0.014) | -0.099b (0.034) | 0.009c (0.100) | -0.171c (0.068) | -0.052 (0.229) | 0.262 (0.844) | 0.028 (0.916) |
Political stability | 1.281b (0.038) | 3.390c (0.081) | 0.563 (0.212) | 1.798b (0.042) | 0.197 (0.745) | 4.025a (0.000) | 0.190 (0.960) | 2.668c (0.076) |
Constant | 51.835 (0.307) | 32.388a (0.002) | 9.363 (0.322) | 0.305b (0.020) | 8.770c (0.000) | 9.519b (0.018) | 9.354 (0.488) | 12.316b (0.040) |
AR(1) | 0.000 | 0.000 | 0.385 | 0.000 | 0.002 | |||
AR(2) | 0.118 | 0.128 | 0.197 | 0.220 | ||||
Sargan | 442.000 | 0.301 | 0.167 | 0.116 |