Variable

Tourism-related FDI

Total FDI

L1. Inward FDI

0.954264

0.901557

(0.002146)***

(0.001670)***

Tourists

1.842374

13.82422

(0.012338)***

(0.051571)***

GDP

−5.08E − 05

0.000737

(7.73E−06)***

(2.99E − 05)***

Fair competition

27.33449

−1059.483

(2.857150)***

(11.78894)***

Corruption

−1635.425

−3769.372

(16.46278)***

(261.0455)***

EPA

226.2965

137.1918

(34.39553)***

(59.91870)**

AR(1)

0.3059

0.2204

AR(2)

0.3702

0.4064

Sargan statistic

0.6331

0.4846

No. of observation

207

207