Findings of normalized long-run coefficients
| Dependent variable: LFDI | ||||
|---|---|---|---|---|
| Variables | Coefficient | t-statistics | Probability (p-values) | Significance |
| ln Market size | −0.54074 | −0.925285 | 0.3747 | Not significant |
| ln Investment | 2.407782 | 3.136375 | 0.0095** | Significant and positive |
| ln Inflation rate | −0.066531 | −1.690898 | 0.119*** | Significant and negative |
| ln Infrastructure (railways) | −2.343487 | −0.782005 | 0.4507 | Not significant |
| ln Infrastructure (tele-density) | 1.2663 | 3.0730 | 0.0069* | Significant and positive |
| ln Trade openness | 2.9462 | 3.0286 | 0.0096* | Significant and positive |
| Dependent variable: LFDI | ||||
|---|---|---|---|---|
| Variables | Coefficient | Probability ( | Significance | |
| ln Market size | −0.54074 | −0.925285 | 0.3747 | Not significant |
| ln Investment | 2.407782 | 3.136375 | 0.0095 | Significant and positive |
| ln Inflation rate | −0.066531 | −1.690898 | 0.119 | Significant and negative |
| ln Infrastructure (railways) | −2.343487 | −0.782005 | 0.4507 | Not significant |
| ln Infrastructure (tele-density) | 1.2663 | 3.0730 | 0.0069 | Significant and positive |
| ln Trade openness | 2.9462 | 3.0286 | 0.0096 | Significant and positive |
Note:
*, ** and *** denotes that variables are statistically significant at 1, 5 and 10%