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Financial Innovation

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
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