|
Intercept____________________________ |
-77.12267_______ |
-4.60 |
16.76610 |
|
Log of Lagged Tax Revenue________ |
29.50331________ |
4.12 |
7.16280 |
|
Log of Literacy rate_________________ |
29.56908________ |
4.25 |
6.95450 |
|
Log of GDP per capita percent |
-0.47770 |
-0.56 |
0.85324 |
|
R-square_________________________ |
0.8246 | ||
|
Adjusted R-Square________________ |
_______0.7193_______ | ||
|
F-Value___________________________ |
________7.83___________ |
Model 7 - Logs of FDI (dependent variable), lagged Tax revenue and GDP lagged by two years
(sample size of 8)
|
Parameter Estimate |
T-value |
Standard Error | |
|
Intercept____________________________ |
-90.45893_______ |
-5.16 |
17.53134 |
|
Log of Tax Revenue lagged by one years________________________________ |
20.48931 |
3.61 |
5.66837 |
|
Log of GDP lagged by two years_____ |
6.32536 |
4.88 |
1.29732 |
|
R-square_________________________ |
_______0.8248_______ | ||
|
Adjusted R-Square________________ |
_______0.7664_______ | ||
|
F-Value___________________________ |
14.12_________ |
Literacy and lagged tax revenues indicate that labor skill and infrastructure are important
factors in attracting FDI to the telecommunications sector. Urban population as a percentage of
total population provided mixed results alternatively indicating that urban population had a
positive and negative impact on FDI. GDP provided counter-intuitive results as most models
incorporating GDP indicated that it had a negative impact on FDI in the telecommunications
sector. However, this might represent that foreign investors pursue other investment
opportunities as the economy expands. Only in model seven does GDP (lagged by two years)
have the expected positive sign and indicates that a one percent increase in lagged GDP increases
telecommunications FDI by just over six percent.
18