| (OLS) | (FE) | (RE-IV) | (GMM) |
VARIABLES | di | di | di | di |
gdp | 1.209*** | 1.311*** | −1.965 | −1.965 |
| (0.213) | (0.192) | (5.211) | (4.196) |
lagdi | −0.0331 | −0.0833* | 0.0834 | 0.0834 |
| (0.104) | (0.0446) | (0.109) | (0.0996) |
lagtrade | 0.917** | 0.689 | 0.481 | 0.481 |
| (0.447) | (0.622) | (1.114) | (0.789) |
lagtrade_square | −0.0187*** | −0.0210** | −0.0142 | −0.0142 |
| (0.00649) | (0.00849) | (0.0165) | (0.0111) |
lagtrade_cubic | 7.02e-05** | 9.11e-05*** | 5.75e-05 | 5.75e-05 |
| (2.73e-05) | (3.46e-05) | (5.95e-05) | (4.17e-05) |
logfdi | −1.984*** | −1.386** | 3.237 | 3.237 |
| (0.547) | (0.652) | (2.610) | (3.143) |
expenditure | −0.0477 | 0.219 | −0.511 | −0.511 |
| (0.147) | (0.263) | (0.712) | (0.571) |
domestic_credit | −0.159** | −0.154 | −0.233* | −0.233 |
| (0.0749) | (0.111) | (0.139) | (0.154) |
pop_growth | −2.211 | −3.044* | −2.667* | −2.667 |
| (1.833) | (1.613) | (1.591) | (2.571) |
industry | −0.0119 | 0.0628 | −0.269 | −0.269 |
| (0.0904) | (0.160) | (0.448) | (0.381) |
lnxdebt | 0.279 | −0.599 | −0.549 | −0.549 |
| (0.835) | (1.680) | (3.117) | (3.108) |
Trade-FDI combined effect | 0.0311*** | 0.0333*** | 0.0381*** | 0.0381*** |
| (0.00735) | (0.00488) | (0.0129) | (0.0116) |
Constant | 11.09 | 29.36 | 49.11 | 49.11 |
| (21.54) | (38.79) | (55.68) | (66.31) |
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Observations | 485 | 467 | 485 | 485 |
R-squared | 0.199 |
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Number of country |
| 18 | 18 |
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