FDI | Africa | Central and West Africa |
Constant | 23.202*** (0.000) | 22.423*** (0.000) |
Total Factors Productivity | 5.463** (0.031) | 3.551*** (0.000) |
Human Capital | −4.322*** (0.006) | −2.845** (0.012) |
D_ICT use | 0.591** (0.012) | 0.346 (0.020) |
Inflation rate | 0.192 (0.037) | 0.054* (0.184) |
Observations | 250 | 150 |
Number of instruments | 9 | 9 |
AR(1) | 0.102 | 0.219 |
AR(2) | 0.360 | 0.919 |
Sargan test | 2.03 | 8.12 |
Probability test of Sargan | 0.730 | 0.087 |
Hansen test | 2.94 | 5.34 |
Probability test of Hansen | 0.568 | 0.254 |