Variable

Pooled OLS Robust Estimates

Fixed Effect Robust Estimates

Random Effect Estimates

Constant

9.288017

−11.97807

11.49086

(8.78)^***

(−2.54)^**

(6.74)^***

FDI

0.0421434

0.001944

0.041200

(4.13)^***

(1.35)

(2.86)^***

OPNS

0.0106538

−0.0048339

−0.0036478

(4.13)^***

(−2.73)^***

(−3.70)^***

GCF

0.028305

0.007671

0.0079159

(4.54)^***

(2.79)^***

(3.83)^***

POP

−0.2118684

1.2358

0.2528303

(−3.57)^***

(4.13)^***

(2.37)^**

D₁

−0.1093489

−0.0207388

−0.1483518

(−0.92)

(−0.70)

(−7.16)^***

R²

0.4387

0.4387

0.5574

F-test

32.23

34.80

32.23

Diagnosis Tests:

White’s General Test (Pooled OLS)

Prob > Chi = 0.0002

Hausman Test

Prob > Chi 2 = 0.0000

Lagrange Multiplier (RE)

Prob > Chibar 2 = 0.0000

Serial Correlation Test (RE)

Prob > F = 0.0000