Skip to main content

Advertisement

Table 8 Interaction effect of FDI and DOMCR on HEWE, and its components except remittance

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

Regressors Education I Health II Consumption III HEWE IV
L1 of regressand 0.989***(0.053) 0.948***(0.038) 1.050***(0.044) 1.028***(0.041)
FDI −9.148***(1.816) −9.031***(2.189) −8.034***(2.199) −13.321***(3.461)
L1 FDI 8.465***(2.135) 5.585**(2.059) 9.512***(1.944) 14.585***(3.282)
DOMCR −.0400(0.070) 0.151*(0.079) 0.089*(0.044) 0.045(0.095)
L1 DOMCR 0.026(0.056) −.0170**(0.070) −0.119**(.057) −0.129(0.098)
FDI*DOMCR 2.915***(0.662) 3.688***(0.800) 2.752***(0.751) 4.953***(1.373)
L1 FDI*DOMCR −2.910***(0.747) −2.613***(0.921) −3.396***(0.775) −5.617***(1.393)
Openness 0.093(0.152) 0.131(0.123) 0.047 (0.104) 0.142(0.228)
Inflation −0.009***(0.002) −0.013***(0.002) − 0.006***(0.001) −0.015***(0.003)
AR 1 0.002 0.001 0.002 0.003
AR 2 0.241 0.111 0.071 0.539
Hansen 0.661 0.062 0.536 0.918
  1. Note: Values in parenthesis denote the robust standard errors of respective estimates. ***p < 0.01 (1%), **p < 0.05 (5%) and *p < 0.095 (10%) denote the level of significance. Time dummies from 2000 to 2013 not reported