Evidence on the Determinants of Foreign Direct Investment: The Case of Three European Regions



Table 6: CATALUNYA

Dependent variable: FDIP

Method of estimation: LSDV (with White correction)

Fixed effect by sector

Values in brackets: Standard Error

1________________

2___________

3___________

4__________

5____________

6____________

7___________

8____________

C

-71.24

(42.83)

-27.85***

(8.19)

-27.32

(16.39)

-16.76***

(6.17)

-31.74***

(9.55)

-19.54**

(5.60)

-14.74**

(5.74)

-6.44

(10.72)

Daverage

10.02**
(4.73)

10.24**

(3.95)

9.51**

(4.15)

11.25***
(4.09)

10.31***
(4.01)

10..06**

(1.55)

10.15**
(3.75)

11.90***

(4.35)

rproduc

2.00*

(1.12)

0.23

(0.42)

0.12

(0.42)

0.21

(0.43)

0.24

(0.41)

0.23

(0.41)

0.065

(0.44)

ULBV

62.54

(39.42)

-7.84

(11.88)

GDPP

1.49***
(0.50)

1.95***
(0.74)

EXPORTP

3.40***

(1.14)

5.00

(3.62)

FBCFP

-5.67

(5.59)

HCP

472.92***

(148.43)

303.30

(298.90)

HRSTV

1.17***
(0.355)

RDP

69896***

(24441)

Adj R-
squared_______

0.45

0.57

0.55

0.59

0.57

0.56

0.58

0.60

N. Obs._______

42

48       ~

42

48         ^

48         '

48       ~~

48      ~

48        ^

***Level of significance 1 %, ** 5%. *10%

Table 7: BADEN-WÜRTTEMBERG

Dependent variable: FDIP

Method of estimation: LSDV (with White correction)

Fixed effect by sector

Values in brackets: Standard Error

1_________________

2__________

3_____________

4__________

5____________

6___________

7__________

8_____________

C

0.412***
(0.05)

-0.51***

(0.17)

-0.55***

(0.19)

-0.61***

(0.20)

-0.54*

(0.27)

-0.49

(0.44)

-0.52*

(0.18)

-0.35

(0.37)________

Daverage

0.13***
(0.02)

0.13***
(0.02)

0.13***
(0.02)

0.13***
(0.02)

0.13***
(0.02)

0.13***
(0.03)

0.13***

(0.02)________

rproduc

0.0003

(0.0006)

ULBV

-0.49***

(0.14)

- 0.26**

(0.10)

-0.27**

(0.10)

-0.27**

(0.10)

-0.27**

(0.10)

-0.27***

(0.10)

-0.25**

(0.12)

-0.27***

(0.09)________

GDPP

0.02***

(0.005)

0.03***

(0.007)

0.05**
(0.02)

0.037
(0.033)

0.04

(0.03)

0.02**
(0.01)

0.02**

(0.009)

EXPORTP

9.81 E-06
(2.18 E-06)

FBCFP

-0.07

(0.08)

-0.07

(0.09)

-0.07

(0.09)

HCP

-2.21

(7.25)

-3.14

(6.75)

HRSTV

0.003
(0.008)

RDP

118.8

(330.6)

Adj R-
squared______

0.67

0.89

0.89

0.89

0.89

0.89

0.87

0.89

N. Obs______

35        ^

35        ^

35      ~

35       ~

35         ^

35        ^

35        ^

35     ~

***Level of significance 1 %, ** 5%. *10%

17



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