Variables

Institution Measure

None

Political

Economic

Initial FDI

−0.21*

(0.009)

−0.17*

(0.032)

−0.17*

(0.033)

Capital Openness

0.02

(0.115)

0.02*

(0.132)

0.04

(0.144)

Property rights

-

−0.02

(0.309)

−0.02

(0.375)

Property rights change

-

−0.02*

(0.021)

−0.01

(0.19)

Trade Openness

-

0.07*

(0.111)

0.07*

(0.142)

Political Regime Type

-

−0.03*

(0.021)

−0.04*

(0.026)

Political Regime Change

-

−0.03*

(0.017)

−0.03*

(0.006)

Inflation

0.56**

(0.099)

0.51*

(0.036)

0.33

(0.221)

Energy Rents

0.21

(0.332)

0.21

(0.218)

0.19

(0.226)

Intercept

0.77

(0.125)

0.77

(0.255)

0.43

(0.274)

Adjusted R²

0.811

0.733

0.821

Restriction p-value

0.901

0.955

0.762

Observations

41

41

41