The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
From: On the simultaneous openness hypothesis: FDI, trade and TFP dynamics in Sub-Saharan Africa
 | Dependent variable: total factor productivity (TFP) | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Trade imports (imports) | Trade exports (exports) | |||||||||
TFP (− 1) | 0.800*** (0.000) | 0.795*** (0.000) | 0.810*** (0.000) | 0.826*** (0.000) | 0.834*** (0.000) | 0.512*** (0.000) | 0.626*** (0.000) | 0.588*** (0.000) | 0.616*** (0.000) | 0.493*** (0.000) |
FDI | 0.016*** (0.001) | 0.010 (0.192) | 0.012* (0.091) | 0.009 (0.216) | 0.026*** (0.000) | 0.026*** (0.000) | 0.023*** (0.000) | 0.026*** (0.000) | 0.028*** (0.000) | 0.035*** (0.000) |
Imports | 0.002*** (0.000) | 0.001** (0.048) | 0.002*** (0.000) | 0.003*** (0.008) | 0.003*** (0.000) | – | – | – | – | – |
Exports | – | – | – | – | – | 0.008*** (0.000) | 0.004*** (0.000) | 0.006*** (0.000) | 0.007*** (0.000) | 0.008*** (0.000) |
FDI × imports | − 0.0003*** (0.001) | − 0.0002 (0.162) | − 0.0002* (0.070) | − 0.0002 (0.161) | − 0.0005*** (0.000) | – | – | – | – | – |
FDI × exports | – | – | – | – |  | − 0.001*** (0.000) | − 0.0009*** (0.000) | − 0.0009*** (0.000) | − 0.001*** (0.000) | − 0.001*** (0.000) |
Education | – | − 0.017 (0.903) | – | – |  | – | 0.060 (0.412) | – | – | – |
Gov’t expenditure | – | – | 0.001 (0.463) | – |  | – | – | 0.002 (0.295) | – | – |
Remittances | – | – | – | − 0.003** (0.031) |  | – | – | – | 0.0007 (0.159) | – |
Private credit | – | – | – | – | − 0.0002 (0.534) | – | – | – | – | 0.002* (0.064) |
Time effects | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Net effects | 0.003 | na | 0.003 | na | 0.005 | nsa | − 0.002 | 0.0003 | − 0.0004 | 0.006 |
AR(1) | (0.823) | (0.400) | (0.787) | (0.683) | (0.898) | (0.788) | (0.469) | (0.751) | (0.460) | (0.778) |
AR(2) | (0.982) | (0.772) | (0.963) | (0.819) | (0.480) | (0.061) | (0.443) | (0.146) | (0.549) | (0.198) |
Sargan OIR | (0.338) | (0.558) | (0.290) | (0.207) | (0.618) | (0.139) | (0.342) | (0.110) | (0.245) | (0.549) |
Hansen OIR | (0.249) | (0.284) | (0.524) | (0.494) | (0.581) | (0.417) | (0.482) | (0.355) | (0.352) | (0.508) |
DHT for instruments | ||||||||||
 (a) Instruments in levels | ||||||||||
  H excluding group | (0.256) | (0.477) | (0.077) | (0.122) | (0.260) | (0.267) | (0.174) | (0.128) | (0.100) | (0.606) |
  Dif(null, H = exogenous) | (0.257) | (0.233) | (0.839) | (0.719) | (0.664) | (0.435) | (0.632) | (0.534) | (0.579) | (0.415) |
 (b) IV (years, eq(diff)) | ||||||||||
  H excluding group | (0.904) | (0.498) | (0.422) | (0.512) | (0.567) | (0.203) | (0.380) | (0.151) | (0.366) | (0.475) |
  Dif(null, H = exogenous) | (0.034) | (0.123) | (0.580) | (0.365) | (0.437) | (0.819) | (0.577) | (0.992) | (0.328) | (0.447) |
Fisher | 4822.08*** | 119.44*** | 8554.72*** | 268.10*** | 262.84*** | 1435.70*** | 268.40*** | 714.95*** | 257.33*** | 626.29*** |
Instruments | 18 | 22 | 22 | 22 | 22 | 18 | 22 | 22 | 22 | 22 |
Countries | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
Observations | 93 | 81 | 91 | 83 | 91 | 93 | 81 | 91 | 83 | 91 |