Table 4

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

VariablesDependent variable: output growth by sector/industry
(4.1)(4.2)(4.3)(4.4)(4.5)
ln(FDI)0.391***0.233***0.235***0.276***0.229***
(0.068)(0.039)(0.048)(0.038)(0.041)
Inflation−0.010−0.015**−0.013*−0.017*−0.015**
(0.021)(0.006)(0.007)(0.008)(0.006)
Openness0.0220.028***0.025***0.029***0.028***
(0.016)(0.007)(0.008)(0.007)(0.007)
ln(gov't_spending)1.0971.680***1.133**1.895***1.751***
(1.036)(0.425)(0.485)(0.396)(0.439)
ln(RCA)0.207***0.290***0.503***0.0670.242***
(0.059)(0.053)(0.062)(0.065)(0.061)
ln(FDI) × Ln(RCA)   0.019** 
   (0.006) 
ln(FDI)_industry1 0.172***   
 (0.009)   
ln(FDI)_industry4 0.103***   
 (0.011)   
ln(FDI)_industry5 0.087***   
 (0.018)   
ln(FDI)_industry7 −0.023   
 (0.015)   
ln(FDI)_industry8 0.020*   
 (0.012)   
ln(FDI)_industry9 0.017   
 (0.012)   
ln(FDI)_industry11 −0.011   
 (0.011)   
ln(FDI) × RCA_industry1    0.194***
    (0.011)
ln(FDI) × RCA_industry4    0.116***
    (0.013)
ln(FDI) × RCA_industry5    0.089***
    (0.018)
ln(FDI) × RCA_industry7    −0.012
    (0.016)
ln(FDI) × RCA_industry8    0.026*
    (0.015)
ln(FDI) × RCA_industry9    0.023*
    (0.013)
ln(FDI) × RCA_industry11    −0.007
    (0.013)
Constant2.0082.2673.955***1.8052.038
(3.229)(1.382)(1.500)(1.677)(1.456)
Observations134134134134134
R-squared0.3890.9120.8730.5180.906
Time FENoYesYesYesYes
Industry FENoYesYesYesYes

Note(s): Robust standard errors in parentheses, ***p < 0.01, **p < 0.05, *p < 0.1

Source(s): Authors' computation

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