Endogenous Determination of FDI Growth and Economic Growth:The OECD Case

Constant

gY

^gFDI

gX

hc(-5)

^gFDI(^-1)

^gFDI(^-2)

^gFDI^(-3)

gY^(-1)

gY^(-2)

gY^(-3)

1 (OLS)

^gFDI

-133.01

(-0.54)

76.62

(1.50)

9.10
(0.99)

-14.39

(-0.57)

2 (TSLS)

-364.94

(-1.10)

164.76

(1.45)

-15.22

(-0.99)

-3.69

(-0.13)

3 (3SLS)

-801.05***
(-2.57)

378.74***

(3.85)

26.50*

(1.82)

1.14
(0.04)

4 (GMM)

-226.68***

(-4.84)

108.74***

(6.87)

-

8.61***

(3.73)

-0.27

(-0.08)

-

-

-

-

-

-

5 (GMM)

-190.03***
(-4.50)

88.96***

(6.20)

-

7.82***

(3.59)

6.78**

(2.26)

0.10*
(1.75)

-

-

-

-

-

6 (GMM)

-184.46***
(-4.33)

87.73***
(6.05)

-

7.37***

(3.29)

0.35
(0.11)

0.11*
(1.83)

0.004***
(2.83)

-

-

-

-

7 (GMM)

-176.60***
(-4.00)

82.23***

(5.26)

-

6.85***

(2.91)

1.13
(0.37)

0.14**

(2.15)

0.005***
(3.10)

0.001

(1.18)

-

-

-

1 (OLS)

gY

2.04***

(11.13)

-

517

(1.50)

0.05***

(7.64)

-0.02

(-1.02)

-

-

-

-

-

-

2 (TSLS)

3.79***

(3.90)

0.001***
(2.84)

0.07**
(2.38)

0.21*

(1.80)

3 (3SLS)

3.43***
(4.06)

0.001***

(4.12)

0.07**
(2.55)

-0.16

(-1.60)

4 (GMM)

3.74***

(10.44)

0.001***
(4.82)

0.06***

(9.47)

0.20***

(4.83)

5 (GMM)

3.01***
(8.01)

0.001***
(4.75)

0.05***

(8.22)

0.17***

(4.22)

024
(5.87)

6 (GMM)

2.88***

(7.38)

0.001***
(4.50)

0.05***
(5.78)

0.16***
(3.67)

0.22***
(5.68)

002
(1.02)

7 (GMM)

2.97***

(7.81)

0.001***

(4.23)

0.04***

(5.43)

0.16***
(3.71)

0.23***

(5.84)

0.04

(1.48)

-0.05*

(-1.70)