Variable | Direct Effect | T statistic | Indirect Effect | T statistic | Total Effect | T statistic |
ER | 0.1987*** | 2.9824 | 0.1135* | 1.9833 | 0.3122** | 2.9443 |
LNHC | 0.0154*** | 2.7762 | −0.0921*** | 2.7852 | −0.0767*** | 5.1001 |
EN | 0.1321* | −1.7934 | −0.1110 | −1.6032 | 0.0211− | 1.3223 |
LNGDP | −0.1774*** | −4.2732 | 0.1002** | −2.8436 | −0.0772** | −2.1274 |
IS | 0.6237* | 1.9802 | 0.0762** | 2.1063 | 0.6999* | 1.8902 |
OPEN | 0.0102* | 2.0013 | −0.0062 | 0.8265 | 0.0040 | 1.1985 |
FDI | 0.2648** | 2.3695 | −0.1354** | 2.2023 | −0.4002*** | 3.9827 |