Variable

GMM Estimates

Constant

−24.326

(−5.57)***

GDPPC (L1)

0.3580

(2.40)**

FDI

0.5826

(4.74)***

OPNS

−0.00342

(−3.41)***

GCF

0.003824

(1.71)*

POP

1.8465

(6.66)***

D1

0.07221

(2.26)**

Diagnosis Tests

Sargan Test of Over identifying Restrictions

Prob > Chi 2 = 0.1304

Arellano-Bond Test of 1st Order Autocorrelation

Prob > Chi 2 = 0.0546

Arellano-Bond Test of 2nd Order Autocorrelation

Prob > Chi 2 = 0.3178