Equation (4.1) | Equation (4.2) | Equation (4.3) | |
Constant | 1.983 | 1.681 | 3.644 |
(0.799) | (1.009) | (0.759) | |
GDP per capita | 0.003 | 0.002 | |
(0.001) | (0.001) | ||
Exchange rate | −0.004 | −0.003 | −0.002 |
(0.001) | (0.001) | (0.001) | |
Trade openness (% GDP) | 0.025 | 0.042 | 0.030 |
(0.009) | (0.011) | (0.011) | |
FDI (% of GDP) | 0.143 | 0.108 | 0.108 |
(0.040) | (0.050) | (0.054) | |
Inflation | −0.004 | ||
(0.002) | |||
Tariff rate, all products (%) | −0.082 | −0.065 | −0.069 |
(0.026) | (0.032) | (0.034) | |
AID (% of GDP) | 0.017 | 0.012 | |
(0.003) | (0.004) | ||
Observation | 78 | 80 | 81 |
R-squared | 0.66 | 0.54 | 0.42 |