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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 7 Results of vector error correction model for FDI and FT.

From: How far is FDI relevant to India’s foreign trade growth? An empirical investigation

Independent variables

Dependent variables

D(FDI)

D(FT)

ECT (\(\gamma_{1}\))

− 0.559680**

[− 3.53137]

− 0.059786

[− 0.19393]

D(FDI(− 1))

− 0.306610

[− 1.84242]

 0.230862

[0.71319]

D(FDI(− 2))

− 0.468589**

[− 2.77988]

 0.167045

[0.50947]

D(FDI(− 3))

− 0.177300

[− 1.00416]

0.550672

[1.47688]

D(FDI(− 4)

 0.020871

[0.11060]

− 0.662191

[− 1.80401]

D(FDI(− 5))

 0.269567

[1.46698]

− 0.421394

[− 1.17894]

D(FDI(− 6))

 0.307804

[1.88480]

− 0.474188

[− 1.49276]

D(FDI(− 7))

 0.433934**

[3.11513]

 0.247188

[0.91228]

D(FT(− 1))

− 0.059877

[− 0.87943]

− 0.179147

[− 1.35269]

D(FT(− 2))

 0.142726*

[2.19310]

 0.169896

[1.34211]

D(FT(− 3))

0.193774**

[2.86742]

− 0.065016

[− 0.49461

D(FT(− 4))

− 0.093738

[− 1.30140]

 0.237515

[1.69525]

D(FT(− 5))

− 0.098020

[− 1.30814]

 0.005169

[0.03546]

D(FT(− 6))

− 0.097403

[− 1.42061

− 0.216399

[− 1.62258]

D(FT(− 7))

− 0.045981

[− 0.66492]

− 0.098890

[− 0.73517]

C

 29.59317

[1.78044]

 80.43425*

[2.48785]

  1. ** Statistically significant at 1% level; * statistically significant at 5% level; [] t values