Table 3

Detailed heterogeneous FDI growth effects by industry in Cambodia, 1994–2017

VariablesDependent variable: output growth by sector/industry
(3.1)(3.2)(3.3)
ln(FDI)0.369***0.346***0.058*
Inflation(0.049)(0.049)(0.031)
 −0.011−0.006
Openness (0.015)(0.005)
 0.029***0.030***
ln(gov't_spending) (0.004)(0.002)
 1.967***2.254***
ln(FDI)_industry1 (0.610)(0.215)
  0.200***
ln(FDI)_industry2  (0.010)
  0.185***
ln(FDI)_industry3  (0.013)
  0.037***
ln(FDI)_industry4  (0.011)
  0.147***
ln(FDI)_industry5  (0.011)
  0.188***
ln(FDI)_industry6  (0.012)
  0.157***
ln(FDI)_industry7  (0.012)
  0.052***
ln(FDI)_industry8  (0.011)
  0.043***
ln(FDI)_industry9  (0.015)
  0.076***
ln(FDI)_industry10  (0.010)
  0.235***
ln(FDI)_industry11  (0.011)
  0.046***
ln(FDI)_industry12  (0.010)
  0.186***
Constant  (0.011)
6.789***0.6592.894***
(0.827)(1.461)(0.603)
Observations309298298
R-squared0.1590.2910.878
Time FENoNoYes
Industry FENoNoYes

Note(s): In refers to the logarithm transformation. RCA refers to revealed comparative advantages. TCI stands for the technology choice index. RCA_Cambodia and RCA_Thailand denote the RCA indexes for Cambodia and Thailand, respectively. TCI_Cambodia represents the TCI for Cambodia. Robust standard errors in parentheses, ***p < 0.01, **p < 0.05, *p < 0.1

Source(s): Authors' computation

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