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Table 4 Effect of FDI on HEWE, conditional on FD

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

  Domestic Credit Money Supply
Level Lag Level Lag
Partial indirect effect of FDI on HEWE: conditional on the mean of Financial Development 13.496 −15.306 22.363 −20.064
Interactive effect of FDI and Financial Development on HEWE 4.953 −5.617 6.634 −5.952
Partial direct effect of FDI on HEWE −13.321 14.585 −23.762 21.112
Total effect of FDI on HEWE 0.175 −0.721 −1.398 1.048
  1. ∂HEWEi, t/∂FCFi, t =  βc1 + ( ρc1 x mean of FDi, t) ; FCF is FDI and FD is DOMCR or MS. Mean of DOMCR = 2.725; Mean of MS = 3.371. Values are significant at 1% level