VARIABLES

Chinn-Ito index

Chinn-Ito index

Chinn-Ito index

FDI flows

FDI flows

FDI flows

FINDEV1

0.991***

−1.063

(0.254)

(1.327)

FINDEV1 × TLIB

−0.008***

0.025

(0.002)

(0.017)

TLIB

0.001

0.002

−0.011***

0.026***

0.032***

0.005

(0.002)

(0.002)

(0.003)

(0.010)

(0.010)

(0.010)

FINDEV2

0.547***

−0.109

(0.191)

(0.930)

FINDEV2 × TLIB

−0.010***

0.010

(0.002)

(0.012)

FINDEV3

0.304

0.260

(0.214)

(0.676)

FINDEV3 × TLIB

−0.003*

−0.018***

(0.001)

(0.006)

Controls: country, year fixed effects, gdp, rule law, corrupt, interest rate, inflation

Observations

1468

1477

867

1450

1459

848

Adjusted R-squared

0.804

0.806

0.817

0.528

0.527

0.557