Examining the Regional Aspect of Foreign Direct Investment to Developing Countries

Table 7: PcGets Results: Return and Risk Variables (Import and Export)

	All countries	Africa	Asia	Latin America
GDP per capita		-0.001*** [0.0003]
Growth	0.431**	0.412***	1.330***	0.472***
	[0.207]	[0.118]	[0.383]	[0.041]
Urban population			0.188***	-0.056***
			[0.0669]	[0.003]
Earn			-0.695*** [0.197]
Ores				0.066*** [0.005]
Landarea		0.556** [0.218]
Roads		-0.020** [0.007]
Telephone	0.035***			0.034***
	[0.012]			[0.003]
Import	0.0061	0.064***		0.037***
	[0.042]	[0.011]		[0.005]
Inflation	-0.014***	-0.005***	-0.041***	-0.003***
	[0.003]	[0.001]	[0.007]	[0.001]
Current account	-0.338***		-0.675***	0.171***
	[0.105]		[0.166]	[0.035]
External debt	-2.553**			-0.747*
	[1.117]			[0.340]
Change in exchange rate	-0.063**		-0.270***	-0.029***
	[0.029]		[0.071]	[0.006]
Variance of the exchange rate	-0.227**		0.805**	0.161***
	[0.111]		[0.361]	[0.021]
International reserves		-5.112*** [1.915]
Government expenditure		7.910*** [2.561]
Corruption	-3.454**			-1.557***
	[1.372]			[0.191
Law	2.870** [1.271]
Political rights			1.682** [0.712]
Voice and accountability			7.202*** [1.759]
Number of observations	100	“43	35	^22
Adjusted R-squared	0.38____________	0.78	0.64	0.87______________

Note: See Table 6.