Variables

Model1

Model2

Model3

Model4

Intercept

−28.3025***

(−12.1135)

−25.6215***

(11.9802)

−22.3324***

(−8.4594)

−28.0016***

(−10.5001)

lnPGDP

2.1540***

(5.3852)

2.0646***

(5.1787)

3.5689***

(4.0025)

2.5111***

(4.1923)

lnEX

0.1096**

(2.3729)

0.0246**

(3.0025)

0.0077**

(2.2526)

0.0605**

(1.5804)

lnFDI

0.3324**

(2.6093)

0.3201**

(1.2641)

0.2208***

(1.0529)

0.2136***

(1.2093)

lnSAVE

0.6074***

(1.1257)

0.7913*

(3.3069)

0.9641*

(3.4991)

0.8372**

（5.5025）

FD₁

0.0089**

(1.2574)

FD₂

0.1165***

(1.6692)

FD₃

0.0215*

(2.3741)

FD₄

0.0034*

(1.0315)

Adjusted R−squared

0.9244

0.9185

0.9807

0.9964

DW

1.9952

1.9875

1.9531

1.9624

F statistic

106.7152

110.1990

111.1542

108.6231