VARIABLES

Chinn-Ito index

Chinn-Ito index

Chinn-Ito index

FDI flows

FDI flows

FDI flows

FINDEV1

0.521

1.915

(0.339)

(1.912)

FINDEV1 × TLIB

0.016

−1.038

(0.334)

(1.843)

FINDEV2

0.375

0.970

(0.315)

(1.465)

FINDEV2 × TLIB

−0.138

−0.384

(0.299)

(1.390)

FINDEV3

0.060

2.694***

(0.339)

(0.960)

FINDEV3 × TLIB

−0.143

−0.383

(0.315)

(0.884)

TLIB

0.317***

0.328***

0.468***

0.553

0.377

0.530**

(0.115)

(0.119)

(0.139)

(0.413)

(0.382)

(0.236)

Controls: country, year fixed effects, gdp

Observations

2301

2310

1273

2284

2293

1250

Adjusted R-squared

0.761

0.761

0.793

0.503

0.503

0.556