Table 6

Estimation results: Real manufacturing by trade openness and FDI number

manUpper1/3Trade opennessLower1/3
Middle1/3
ln PCY−130.178** (−2.102)−16.22150 (−0.463)−4.932 (−0.209)
(ln PCY)ˆ26.159*** (2.994)0.542150 (0.530)−0.878 (−1.164)
ln POP841.332*** (5.140)−165.2390 (−0.730)7.691 (0.063)
(ln POP)ˆ2−27.972*** (−4.687)4.795 (0.557)−0.707 (−0.154)
LAC117.547***(−4.116)−1.391 (−1.217)111.554***(4.304)
Province fixed effectsYesYesYes
Period fixed effectsYesYesYes
Number of provinces202121
Number of observation192197173
manUpper1/3FDI numberLower1/3
Middle1/3
ln PCY62.781 (1.388)−26.788 (−0.665)94.641*** (2.887)
(ln PCY)ˆ2−0.911 (−0.700)0.405 (0.280)−3.909*** (−3.968)
ln POP374.34*** (2.716)−123.135 (−0.478)−68.062 (−0.534)
(ln POP)ˆ2−10.544** (−2.130)2.570 (0.271)2.491 (0.516)
LAC8.341***(−2.808)49.860 (0.968)131.286***(3.261)
Province fixed effectsYesYesYes
Period fixed effectsYesYesYes
Number of provinces202121
Number of observation191201170

Note(s):***, **, * denote the rejection of null hypothesis at the 99%, 95% and 90% level of significance in the coefficients. T-statistics are in parentheses

Source(s): Author estimation

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