Variables | Direct effects | Indirect effects | Total effects |
ER1 | −0.00289 (0.0864) | 0.566*** (0.172) | 0.563*** (0.183) |
ER2 | 0.572 (0.369) | −1.687** (0.736) | −1.115 (0.691) |
ER3 | 1.654*** (0.591) | 0.290 (1.296) | 1.944 (1.337) |
OPEN | 0.934* (0.488) | −4.386*** (0.955) | −3.452*** (0.979) |
FDI | −12.86*** (4.575) | 0.742 (10.25) | −12.12 (10.33) |
PGDP | 0.0285 (0.127) | 0.150 (0.291) | 0.178 (0.343) |