Table 5 - Migrants networks and FDI - United Kingdom
Dependent variable:_____ |
____________________________Outward FDI____________________________ |
______________________________Inward FDI______________________________ | ||||||||
Static |
models |
Dynamic model |
Static |
models |
Dynamic model | |||||
Explanatory variables |
Model 1 |
Model 2 |
Model 3 |
Model 4 |
Model 5 |
Model 6 |
Model 7 |
Model 8 |
Model 9 |
Model 10 |
l_TGDP |
1,465 *** |
0,777 |
0,527 |
0,571 |
-0,163 |
1,459 *** |
1,422 *** |
1,466 *** |
1,849 *** |
1,239 ** |
(0,499) |
(0,559) |
(0,531) |
(0,562) |
(0,431) |
(0,479) |
(0,533) |
(0,509) |
(0,506) |
(0,584) | |
l_sq_GDPDIFF |
-0,206 * |
-0,112 |
-0,114 |
-0,119 |
-0,008 |
-0,218 ** |
-0,223 ** |
-0,199 * |
-0,202 ** |
-0,175* |
(0,112) |
(0,116) |
(0,110) |
(0,112) |
(0,078) |
(0,099) |
(0,103) |
(0,100) |
(0,096) |
(0,099) | |
l_PCGDPDIFF |
-0,151 *** |
-0,161 *** |
-0,123 ** |
-0,120 ** |
-0,026 |
0,141 *** |
0,124 ** |
0,125 ** |
0,103 ** |
0,062 |
(0,049) |
(0,054) |
(0,052) |
(0,054) |
(0,045) |
(0,047) |
(0,052) |
(0,050) |
(0,048) |
(0,059) | |
l_DIST |
0,508 *** |
0,474 ** |
0,311 |
0,312 |
-0,097 |
-1,227 *** |
-1,152 *** |
-0,971 *** |
-1,055 *** |
-0,580 |
(0,193) |
(0,230) |
(0,222) |
(0,223) |
(0,180) |
(0,242) |
(0,284) |
(0,285) |
(0,274) |
(0,364) | |
l_OPENNESS |
0,064 |
0,168 |
0,402 |
0,395 |
0,082 |
-2,051 *** |
-1,994 *** |
-1,235 ** |
-1,086 * |
-0,291 |
(0,302) |
(0,367) |
(0,353) |
(0,356) |
(0,293) |
(0,415) |
(0,502) |
(0,577) |
(0,553) |
(0,677) | |
DUMMYEU15 |
1,221 ** |
0,685 |
0,382 |
0,375 |
0,100 |
0,759 * |
0,672 |
0,457 |
0,347 |
0,473 |
(0,484) |
(0,526) |
(0,505) |
(0,508) |
(0,409) |
(0,441) |
(0,448) |
(0,440) |
(0,422) |
(0,508) | |
Dummyoecd |
0,574 |
0,755 |
0,021 |
0,549 |
1,062 |
-1,564 ** |
-1,299 * |
-1,287 * |
13,726 ** |
10,376* |
(0,465) |
(0,565) |
(0,571) |
(2,214) |
(1,854) |
(0,663) |
(0,708) |
(0,680) |
(5,627) |
(6,046) | |
DUMMYLANG |
1,109*** |
0,528 |
0,410 |
0,432 |
-0,111 |
2,031 *** |
1,989 *** |
1,146 |
1,011 |
0,696 |
(0,411) |
(0,537) |
(0,511) |
(0,522) |
(0,428) |
(0,500) |
(0,679) |
(0,750) |
(0,717) |
(0,884) | |
DUMMYCOMMONWEALTH |
-0,389 |
-0,822 |
-1,371 ** |
-1,407 ** |
-0,637 |
1,056 * |
0,917 |
0,873 |
1,129* |
0,500 |
(0,448) |
(0,568) |
(0,559) |
(0,580) |
(0,475) |
(0,618) |
(0,633) |
(0,608) |
(0,588) |
(0,753) | |
Chrisshare |
-0,019 |
-0,039 |
0,496 |
0,513 |
-0,452 |
-2,545 *** |
-2,557 *** |
-1,590 * |
-1,632 * |
-1,561 |
(0,459) |
(0,572) |
(0,561) |
(0,568) |
(0,455) |
(0,744) |
(0,810) |
(0,874) |
(0,834) |
(0,999) | |
GOVERNANCE_Std |
0,610 |
0,694 |
1,513 |
1,593 |
0,204 |
6,986 *** |
6,922 *** |
6,589 *** |
6,877 *** |
2,742 |
(0,894) |
(1,098) |
(1,062) |
(1,115) |
(0,920) |
(1,490) |
(1,558) |
(1,506) |
(1,441) |
(1,852) | |
IMMIGRANTS |
0,504 *** |
0,012 | ||||||||
(0,177) |
(0,195) | |||||||||
LLOWSKILLEDJMMI |
-0,779 ** |
-0,775 ** |
-0,324 |
-0,727 ** |
-0,681 ** |
-0,526 | ||||
(0,307) |
(0,309) |
(0,241) |
(0,305) |
(0,292) |
(0,334) | |||||
l_SKILLED_IMMI |
1,552 *** |
1,092 ** | ||||||||
(0,372) |
(0,444) | |||||||||
l_SKILLED_IMMI_OECD |
1,513 *** |
0,360 |
0,944 ** |
0,629 | ||||||
(0,406) |
(0,340) |
(0,427) |
(0,504) | |||||||
Lskilledjmmlnonoecd |
1,575 *** |
0,471 |
2,508*** |
1,769 ** | ||||||
(0,385) |
(0,326) |
(0,676) |
(0,738) | |||||||
Time dummies |
yes |
yes |
yes |
yes |
yes |
yes |
yes |
yes |
yes |
yes |
const |
-12,913 |
-10,786 |
-8,721 |
-9,484 |
3,981 |
5,493 |
5,429 |
-3,353 |
-22,882 * |
-16,052 |
(8,161) |
(8,723) |
(8,277) |
(8,873) |
(7,240) |
(8,924) |
(10,282) |
(10,560) |
(12,424) |
(13,548) | |
Adjusted R2 |
0,442 |
0,465 |
0,521 |
0,517 |
0,776 |
0,743 |
0,725 |
0,746 |
0,769 |
0,802 |
Number of observations |
149 |
119 |
119 |
119 |
78 |
85 |
79 |
79 |
79 |
51 |
Notes: *** 1%, ** 5%, * 10% significant level; heteroskedasticity robust standard errors are in the parentheses.
The variable l_PCGDPDIFF is the positive difference (zero otherwise) between the sending and the receiving country.
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