| Variables in Level | ADF value | Variables in 1st diff | ADF value* | Country |
| GDP Growth | 0.953 | D (GDP Growth) | −4.64 | BHUTAN |
| FDI | −2.98 | D (FDI) | −4.998 | |
| GDP Growth | 1.1 | D (GDP Growth) | −7.14 | ETHIOPIA |
| FDI | −3.803 | D (FDI) | −5.453 | |
| GDP Growth | −4.626 | D (GDP Growth) | −5.4222 | INDIA |
| FDI | −0.1964 | D (FDI) | −5.705 | |
| GDP Growth | −1.744 | D (GDP Growth) | −8.693 | BRAZIL |
| FDI | −1.437 | D (FDI) | −5.1223 | |
| GDP Growth | −3.22 | D (GDP Growth) | −5.513 | U.K |
| FDI | −2.31 | D (FDI) | −5.906 | |
| GDP Growth | −3.204 | D (GDP Growth) | −6.566 | U.S.A |
| FDI | −1.259 | D (FDI) | −6.164 |