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 |