| GDP | Coefficient | Standard Error | t-statistic | P-value (P < 0.05) |
| C | −1.990 | 4.262 | −0.47 | 0.643 |
| FDI | −0.007 | 0.306 | −0.02 | 0.982 |
| INFLA | 0.029 | 0.550 | 0.05 | 0.959 |
| TOP | 0.915 | 0.446 | 2.05 | 0.047* |
| Adjusted R-squared | 0.110 | |||
| R-squared | 0.174 | |||
| F-statistic | 2.73 | |||
| Prob (F-statistic) | 0.0566 | |||
| No of observations | 43 | |||