Variables

FD₁

FD₂

FD₃

FD₄

Intercept

−2.441***

(3.8291)

−2.581***

(4.2513)

−3.269***

(10.0046)

−8.979***

(6.7955)

lnOFDI_-1

0.518***

(7.2381)

0.600***

(8.1656)

0.571***

(10.9629)

0.135**

(11.1557)

lnPGDP

0.542**

(4.2621)

0.433**

(4.0532)

0.123**

(4.1019)

0.811**

(6.3029)

lnEX

0.322**

(10.0107)

0.126***

(8.2036)

0.167***

(8.0024)

0.506**

(7.7910)

lnFIA

0.458**

(6.9013)

0.440**

(2.1306)

0.103***

(7.9916)

0.274***

(7.2341)

lnSAVE

0.151**

(1.0129)

0.154*

(0.0052)

0.903*

(5.1330)

0.317**

(6.0134)

FD₁

0.395*

(4.3677)

FD₂

0.188*

(6.1039)

FD₃

0.470**

(9.5152)

FD₄

0.206**

(5.6061)

AR₁

0.005

0.0012

0.000

0.000

AR₂

0.178

0.065

0.094

0.263

Hansen

0.326

0.352

0.125

0.367

Number of tool variables

28

28

28

28

Number of provinces

30

30

30

30