Table 5 Tests on Serbia and Slovenia

FDI

0.0872523

0.0463447

−0.0106245

0.084326

−0.013082

−0.0273761

0.0130055

0.0046342

[0.022588]***

[0.020901]**

[0.0259282]

[0.02627]***

[0.014735]

[0.0165807]

[0.0358174]

[0.0193945]

FTW

−1.348849

−0.3129612

0.2827722

−1.454585

−1.169018

−1.282121

−0.5979759

[0.446932]***

[0.4494059]

[0.5640654]

[0.50670]***

[0.391816]***

[0.368457]***

[0.4903518]

CU

−0.0053013

−0.1105883

−0.0730646

0.2911474

−0.0846266

−0.0317231

−0.0464205

−0.075677

−0.0736572

−0.2079752

[0.0697471]

[0.0809953]

[0.0806983]

[0.08637]***

[0.0712049]

[0.070127]

[0.0677641]

[0.0815826]

[0.1223075]

[0.08436]**

AEG

−0.0571991

−0.0161928

−0.0439874

−0.0013306

−0.6372299

−0.6069466

−0.7148405

−0.4704578

[0.1087931]

[0.1360979]

[0.1257341]

[0.123254]

[0.156665]***

[0.152052]***

[0.183829]***

[0.21470]**

ALPG

−0.5663892

−0.4602196

−0.5719828

−0.5106869

0.1397358

0.1419685

0.0742142

0.0532456

[0.072876]***

[0.08483]***

[0.084265]***

[0.07471]***

[0.0672081]*

[0.0667857]**

[0.0755818]

[0.0917073]

PTSExD

0.1008651

0.0949276

0.1107823

0.0718653

0.0826193

0.0818311

0.0529496

0.1110206

[0.0307538]***

[0.0386086]**

[0.0353679]***

[0.0638152]

[0.0215668]***

[0.0214281]***

[0.0227716]*

[0.0512832]**

PTSExI

−0.2126677

−0.137492

−0.3891441

−0.7412186

−0.3861092

−0.3474616

−0.3990607

−0.6382333

[0.2469361]

[0.3094278]

[0.2774965]

[0.4418439]*

[0.115373]***

[0.106248]***

[0.137186]***

[0.3636737]*

Constant

8.11988

11.13252

8.380457

−19.23921

14.09833

2.072079

3.285566

2.865243

4.235163

14.42283

[4.097979]*

[5.056915]**

[4.738895]**

[5.884539]***

[4.051163]***

[5.384585]

[5.179113]

[6.399351]

[9.500267]

[6.679479]**

R-squared

0.8545

0.7601

0.7969

0.3301

0.7616

0.9424

0.9175

0.9175

0.1724

0.8761

Adj R-sqrd

0.8102

0.7002

0.7461

0.2588

0.7139

0.9242

0.8915

0.8915

0.0955

0.8451

Obs

496

434

434

372

372

432

378

378

270

324

Time period

2002–2013

2002–2013