NARDL long- and short-run results
| Variable | FDI and GDP | FDI and POV |
|---|---|---|
| Long run | ||
| FDI+ | 0.165 [4.439]*** | −0.602 [6.133]** |
| FDI− | −0.488 [8.006]** | 1.456 [6.472]** |
| FREE | −7.833 (3.969)*** | 2.923 (0.56) |
| GOV | 1.788 (2.31)** | −5.654 (−2.78)** |
| CRED | −0.089 (−1.47) | −0.030 (−0.39) |
| INF | −0.884 (−2.50)** | |
| TRA | 0.626 (2.34)** | |
| UNE | 0.447 (1.09) | |
| CONSTANT | 4.546 (0.23) | 79.491 (1.23) |
| Short run | ||
| ECM | −1.195 (−3.44)* | −0.997 (−2.49)** |
| FDI+ | 0.198 (3.20)** | −0.060 (−3.43)* |
| FDI− | 0.583 (4.46)* | −1.451 (−4.16)* |
| Asymmetry test | ||
| Long-run asymmetry | 9.875** | 5.961** |
| Short-run asymmetry | 0.010 | 7.688*** |
| Variable | FDI and GDP | FDI and POV |
|---|---|---|
| FDI+ | 0.165 [4.439] | −0.602 [6.133] |
| FDI− | −0.488 [8.006] | 1.456 [6.472] |
| FREE | −7.833 (3.969) | 2.923 (0.56) |
| GOV | 1.788 (2.31) | −5.654 (−2.78) |
| CRED | −0.089 (−1.47) | −0.030 (−0.39) |
| INF | −0.884 (−2.50) | |
| TRA | 0.626 (2.34) | |
| UNE | 0.447 (1.09) | |
| CONSTANT | 4.546 (0.23) | 79.491 (1.23) |
| ECM | −1.195 (−3.44) | −0.997 (−2.49) |
| FDI+ | 0.198 (3.20) | −0.060 (−3.43) |
| FDI− | 0.583 (4.46) | −1.451 (−4.16) |
| Asymmetry test | ||
| Long-run asymmetry | 9.875 | 5.961 |
| Short-run asymmetry | 0.010 | 7.688 |
Note:
*, ** and ***indicate significance at the 1, 5 and 10% levels, respectively