HEWE | |||||
---|---|---|---|---|---|
Regressors | Model I | Model II | Model III | Model IV | Model V |
L1 HEWE | 0.987***(0.037) | 1.044***(0.064) | 1.028***(0.041) | 1.054***(0.052) | 1.027***(0.044) |
FDI | −2.04**(0.620) | −1.99**(0.647) | −13.321***(3.461) | −2.023**(0.782) | − 23.762***(7.967) |
L1 FDI | 2.44**(0 .736) | 2.513**(0.882) | 14.585***(3.282) | 2.793**(0.928) | 21.112***(3.378) |
DOMCR | – | 0.153(0.102) | 0.045(0.095) | – | – |
L1 DOMCR | – | − 0.247*(0.128) | −0.129(0.098) | – | – |
MS | – | – | – | 0.285**(0.097) | 0.093(0.156) |
L1 MS | – | – | – | −0.514**(0.160) | −0.362**(0.177) |
FDI*DOMCR | – | – | 4.953***(1.373) | – | – |
L1 FDI*DOMCR | – | – | −5.617***(1.393) | – | – |
FDI*MS | – | – | – | – | 6.634***(2.192) |
L1 FDI*MS | – | – | – | – | −5.952***(0.982) |
Openness | 0.088(0.154) | 0.035(0.164) | 0.142(0.228) | 0.071(0.158) | 0.211(0.233) |
Inflation | −0.014***(0.002) | −0.015***(0.002) | − 0.015***(0.003) | −0.014***(0.002) | − 0.016***(0.003) |
AR 1 | 0.092 | 0.109 | 0.003 | 0.113 | 0.008 |
AR 2 | 0.158 | 0.214 | 0.539 | 0.204 | 0.356 |
Hansen | 0.10 | 0.258 | 0.918 | 0.242 | 0.312 |