Variable | (1) | (2) |
L1. Inward FDI | 0.933662 | 0.935110 |
(0.003399)*** | (0.002629)*** | |
Tourists | 5.896787 | 5.454510 |
(0.060697)*** | (0.029855)*** | |
GDP | 0.000533 | 0.000318 |
(5.29E−05)*** | (4.33E−05)*** | |
Fair competition | −132.8082 | −213.4359 |
(16.01520)*** | (2.428945)*** | |
Corruption | −2547.210 | −2723.124 |
(59.86042)*** | (33.36720)*** | |
EPA | −1241.959 |
|
(50.67664)*** |
| |
AR(1) | 0.4671 | 0.2556 |
AR(2) | 0.5536 | 0.3456 |
Sargan statistic | 0.6556 | 0.6970 |
No. of observation | 276 | 276 |