OLS

FE

RE

FE

RE

Variables

FDI

FDI

FDI

FDI

FDI

Freedom from corruption

−0.416

−2.091

−0.585

−0.853

−0.0887

(1.298)

(3.328)

(2.900)

(2.396)

(2.204)

Property rights

4.607^***

2.574^*

3.252^**

4.486^***

5.404^***

(0.950)

(1.269)

(1.487)

(1.465)

(1.633)

Invest freedom

0.509

0.0256

0.124

1.799^*

1.638

(0.698)

(0.614)

(0.786)

(0.978)

(1.052)

GDP total

0.292^***

0.262^*

0.314^**

0.0364

0.143

(0.0475)

(0.139)

(0.134)

(0.143)

(0.112)

Inflation

−3.866^***

−3.006

−3.040

−3.304

−2.676

(1.112)

(2.969)

(2.674)

(2.685)

(2.200)

Interest

−4.977^***

−7.030^***

−5.121^***

−5.110^***

−4.180^***

(1.128)

(1.870)

(1.616)

(1.185)

(1.084)

Exchange

−0.000179

0.0437^**

−0.000480

0.0394^*

0.000225

(0.00222)

(0.0180)

(0.00216)

(0.0194)

(0.00134)

d2000

−32.82

−195.6^***

(42.81)

(54.26)

d2001

−35.63

−180.1^***

(32.62)

(50.39)

d2002

−133.2^**

(54.94)

d2003

14.79

−114.9^**

(24.03)

(55.43)

d2004

59.31^*

−70.17

(32.36)

(48.95)

d2005

100.6^**

−33.72

(39.07)

(49.93)

d2006

128.8^**

−11.65

(51.48)

(49.49)

d2007

136.9^***

−11.75

(43.00)

(32.54)

d2008

210.5^***

47.93^**

(52.83)

(23.02)

d2009

105.1^**

−49.12^**

(45.80)

(19.28)

d2010

157.7^**

(61.63)

Constant

−58.46

70.62

10.21

−149.5

−58.58

(45.89)

(138.7)

(102.9)

(142.6)

(68.77)

Observations

185

185

185

185

185

R-squared

0.437

0.259

0.245

0.437

0.426

Number of id

19

19

19

19