Skip to main content

Table 12 Dynamic panel data estimation, one-step system GMM: interaction effect of Portfolio inflow and financial development on HEWE

From: The interaction effect of foreign capital inflows and financial development on economic welfare in sub-Saharan Africa

Regressors

Model I

Model II

HEWE

 L1 HEWE

1.066783 ***(.0850911)

1.061039*** (.0575306)

 Portfolio

−1.587012 (1.963031)

−2.884131 (3.382766)

 L1 Portfolio

1.492666 (1.869803)

2.756517 (3.22638)

 DOMCR

.5636969 (.5855804)

–

 L1 DOMCR

−.6569331 (.6164778)

–

 MS

–

1.455801 (1.234993)

 L1 MS

–

−1.49361 (1.131402)

 Portfolio*DOMCR

.3211547 (.3985153)

–

 L1 Portfolio*DOMCR

−.3023585 (.3781958)

–

 Portfolio*MS

–

.6581486 (.7716539)

 L1 Portfolio*MS

–

−.6250998 (.7318689)

 Openness

.1083707 (.1823728)

−.0837796 (.1763114)

 Inflation

−.0162765*** (.0029864)

−.0132394*** (.0028253)

 AR 1

0.123

0.145

 AR 2

0.154

0.277

 Hansen

0.501

0.272

  1. Note: Values in parenthesis denote the robust standard errors of respective estimates. ***p < 0.01 (1%), **p < 0.05 (5%) and *p < 0.10 (10%) denote the level of significance. Time dummies from 2000 to 2013 not reported. Number of observation: N = 23; T = 14. Portfolio inflow is used as indicator for FCF; DOMCR and MS are used as indicators for FD in both eqs. (1)
Back to article page