Table 5 FDI, digitalization and income... | Emerald Publishing

Table 5

FDI, digitalization and income inequality (30 developed countries)

Digitalization = Fixed broadband subscriptions: 2S-GMM estimates
Dependent variable: GINI index (income inequality)
Variables	GOV1	GOV2	GOV3	GOV4	GOV5	GOV6
Gini index (−1)	0.944^*** (0.013)	0.947^*** (0.012)	0.962^*** (0.014)	0.985^*** (0.004)	0.949^*** (0.012)	0.931^*** (0.014)
FDI	0.005^** (0.002)	0.004^** (0.002)	0.007^*** (0.002)	0.006^** (0.003)	0.004^** (0.001)	0.003^** (0.001)
Digitalization	−0.0005^* (0.002)	−0.0008^** (0.000)	−0.001^*** (0.000)	−0.001^*** (0.000)	−0.0007^** (0.000)	−0.001^*** (0.000)
FDI* Digitalization	−0.000^** (0.000)	−0.000^* (0.000)	−0.000^** (0.000)	−0.000^** (0.000)	−0.000^** (0.000)	−0.000^** (0.000)
Governance	−0.125^** (0.048)	−0.124^** (0.057)	−0.204^*** (0.079)	0.207 (0.223)	0.008 (0.076)	−0.690^*** (0.000)
Economic growth	0.002^*** (0.000)	0.001^*** (0.000)	0.002^*** (0.000)	0.001 (0.000)	0.001^*** (0.000)	0.003^*** (0.000)
Education	−0.001 (0.004)	0.001 (0.007)	−0.005^* (0.003)	−0.004 (0.003)	0.007 (0.006)	−0.000 (0.006)
Instrument	30	30	30	30	30	30
Country/Observation	30/480	30/510	30/480	30/480	30/510	30/510
AR(2) test	0.261	0.198	0.276	0.277	0.199	0.214
Sargan test	0.566	0.543	0.224	0.232	0.633	0.575
Hansen test	0.820	0.910	0.836	0.904	0.948	0.831

Digitalization = Fixed broadband subscriptions: 2S-GMM estimates
Dependent variable: GINI index (income inequality)
Variables	GOV1	GOV2	GOV3	GOV4	GOV5	GOV6
Gini index (−1)	0.944^*** (0.013)	0.947^*** (0.012)	0.962^*** (0.014)	0.985^*** (0.004)	0.949^*** (0.012)	0.931^*** (0.014)
FDI	0.005^** (0.002)	0.004^** (0.002)	0.007^*** (0.002)	0.006^** (0.003)	0.004^** (0.001)	0.003^** (0.001)
Digitalization	−0.0005^* (0.002)	−0.0008^** (0.000)	−0.001^*** (0.000)	−0.001^*** (0.000)	−0.0007^** (0.000)	−0.001^*** (0.000)
FDI* Digitalization	−0.000^** (0.000)	−0.000^* (0.000)	−0.000^** (0.000)	−0.000^** (0.000)	−0.000^** (0.000)	−0.000^** (0.000)
Governance	−0.125^** (0.048)	−0.124^** (0.057)	−0.204^*** (0.079)	0.207 (0.223)	0.008 (0.076)	−0.690^*** (0.000)
Economic growth	0.002^*** (0.000)	0.001^*** (0.000)	0.002^*** (0.000)	0.001 (0.000)	0.001^*** (0.000)	0.003^*** (0.000)
Education	−0.001 (0.004)	0.001 (0.007)	−0.005^* (0.003)	−0.004 (0.003)	0.007 (0.006)	−0.000 (0.006)
Instrument	30	30	30	30	30	30
Country/Observation	30/480	30/510	30/480	30/480	30/510	30/510
AR(2) test	0.261	0.198	0.276	0.277	0.199	0.214
Sargan test	0.566	0.543	0.224	0.232	0.633	0.575
Hansen test	0.820	0.910	0.836	0.904	0.948	0.831

Note(s): ^***, ^**, ^*report significance level at 1%, 5% and 10%

Source(s): Own elaboration