MG, PMG and DFE estimators: empirical results
| GDP per capita (dependent variable) | |||||
|---|---|---|---|---|---|
| Variables | MG | PMG | DFE | ||
| Long-run coefficients | |||||
| ln(FDI) | −0.0417 (0.9540) | 0.0141 (0.9320) | 0.0851 (0.6790) | ||
| ln(TR) | 0.5424 (0.2270) | 0.1496 (0.4127) | 0.3180*** (0.0680) | ||
| ODA | 7.4358 (0.2670) | 0.0017 (0.8154) | −0.0106 (0.7410) | ||
| Hausman test | 1.25 (0.7404) | 0.57 (0.9041) | |||
| ECM | −0.8375* | −0.8907* | −0.8897* | ||
| Phi | (0.0000) | (0.0000) | (0.0000) | ||
| Short-run coefficients | |||||
| Dln(FDI) | −2.8971* (0.0060) | −2.3785* (0.0041) | −1.4197* (0.0000) | ||
| Dln(TR) | −2.1892* (0.0040) | −1.6741** (0.0250) | −1.3900* (0.0000) | ||
| D(ODA) | −7.1798 (0.1970) | −8.5894 (0.1170) | −0.0452 (0.1340) | ||
| Constante | 2.6892 (0.1410) | 1.7444* (0.0000) | 1.8983* (0.0000) | ||
| GDP per capita (dependent variable) | |||||
|---|---|---|---|---|---|
| Variables | MG | PMG | DFE | ||
| ln(FDI) | −0.0417 (0.9540) | 0.0141 (0.9320) | 0.0851 (0.6790) | ||
| ln(TR) | 0.5424 (0.2270) | 0.1496 (0.4127) | 0.3180 | ||
| ODA | 7.4358 (0.2670) | 0.0017 (0.8154) | −0.0106 (0.7410) | ||
| Hausman test | 1.25 (0.7404) | 0.57 (0.9041) | |||
| ECM | −0.8375 | −0.8907 | −0.8897 | ||
| Phi | (0.0000) | (0.0000) | (0.0000) | ||
| Dln(FDI) | −2.8971 | −2.3785 | −1.4197 | ||
| Dln(TR) | −2.1892 | −1.6741 | −1.3900 | ||
| D(ODA) | −7.1798 (0.1970) | −8.5894 (0.1170) | −0.0452 (0.1340) | ||
| Constante | 2.6892 (0.1410) | 1.7444 | 1.8983 | ||
Note:
*, ** and *** indicates the significance at 1%, 5% and 10%