Investment freedom |
| 0.072822 (0.1068) |
| 0.099872*** (0.0080) |
Financial freedom |
| 0.073181 (0.1503) |
|
|
Government stability |
|
| 0.376301 (0.2126) | 0.325123 (0.2685) |
Socio-economic conditions |
|
| −1.695799*** (0.0000) | −1.443906*** (0.0007) |
Investment profile |
|
| −2.599799*** (0.0000) | −2.100186*** (0.0000) |
Internal conflict |
|
| −1.133595*** (0.0001) | −0.814511** (0.0460) |
External conflict |
|
| 0.616557** (0.0420) | 0.521186* (0.0879) |
Military in politics |
|
| −0.958477*** (0.0022) | −1.140314*** (0.0009) |
Religion in politics |
|
| −0.807621*** (0.0075) | −0.864875*** (0.0079) |
Law and order |
|
| 0.955669* (0.0589) | 0.671216 (0.2131) |
Ethnic tensions |
|
| 2.875480*** (0.0000) | 2.785292*** (0.0000) |
Democratic accountability |
|
| −0.467545 (0.2788) | −0.424467 (0.3183) |
Bureaucracy quality |
|
| 0.777981 (0.1876) | −0.512620 (0.4243) |
Constant | 61.03708*** (0.0000) | 74.49107*** (0.0000) | 61.25609*** (0.0000) | 58.08776*** (0.0000) |
R-squared | 0.493375 | 0.581924 | 0.743636 | 0.780112 |
Adjusted R-squared | 0.470229 | 0.549091 | 0.719091 | 0.748351 |
F-statistic | 21.31639 | 17.72365 | 30.29628 | 24.56150 |
Prob. (F-statistic) | 0.000000 | 0.000000 | 0.000000 | 0.000000 |