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: real total factor productivity growth (real TFP growth) | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Trade imports (imports) | Trade exports (exports) | |||||||||
Real TFP growth (− 1) | 0.712*** (0.000) | 0.662*** (0.000) | 0.670*** (0.000) | 0.696*** (0.000) | 0.764*** (0.000) | 0.663*** (0.000) | 0.494*** (0.000) | 0.594*** (0.000) | 0.484*** (0.000) | 0.694*** (0.000) |
FDI | 0.024** (0.034) | 0.005 (0.624) | 0.040*** (0.000) | 0.012*** (0.002) | 0.023*** (0.001) | 0.049*** (0.000) | 0.033*** (0.000) | 0.048*** (0.000) | 0.050*** (0.000) | 0.048*** (0.000) |
Imports | 0.002** (0.030) | 0.001 (0.344) | 0.002*** (0.001) | 0.002*** (0.002) | 0.002*** (0.001) | – | – | – | – | – |
Exports | – | – | – | – | – | 0.005*** (0.001) | 0.005*** (0.002) | 0.005*** (0.000) | 0.005*** (0.000) | 0.006** (0.011) |
FDI × imports | − 0.0004** (0.029) | − 0.0001 (0.474) | − 0.0007*** (0.000) | − 0.0003*** (0.001) | − 0.0004*** (0.001) | – | – | – | – | – |
FDI × exports | – | – | – | – | – | − 0.001*** (0.000) | − 0.001*** (0.000) | − 0.001*** (0.000) | − 0.001*** (0.000) | − 0.001*** (0.000) |
Education | – | − 0.212 (0.124) | – | – | – | – | − 0.494*** (0.000) |  | – | – |
Gov’t expenditure | – | – | 0.006*** (0.000) | – | – | – | – | 0.005* (0.065) | – | – |
Remittances | – | – | – | − 0.001 (0.193) | – | – | – | – | − 0.001** (0.018) | – |
Private credit | – | – | – | – | − 0.0004 (0.584) | – | – | – | – | 0.0003 (0.567) |
Time effects | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Net effects | 0.007 | na | nsa | − 0.012 | 0.006 | nsa | 0.004 | 0.019 | 0.021 | 0.019 |
AR(1) | (0.060) | (0.290) | (0.045) | (0.132) | (0.124) | (0.070) | (0.270) | (0.058) | (0.112) | (0.185) |
AR(2) | (0.156) | (0.337) | (0.082) | (0.212) | (0.315) | (0.125) | (0.311) | (0.104) | (0.328) | (0.285) |
Sargan OIR | (0.049) | (0.124) | (0.055) | (0.021) | (0.055) | (0.028) | (0.091) | (0.046) | (0.000) | (0.015) |
Hansen OIR | (0.185) | (0.180) | (0.044) | (0.167) | (0.140) | (0.042) | (0.207) | (0.118) | (0.179) | (0.123) |
DHT for instruments | ||||||||||
 (a) Instruments in levels | ||||||||||
  H excluding group | (0.047) | (0.150) | (0.042) | (0.110) | (0.030) | (0.030) | (0.117) | (0.072) | (0.209) | (0.057) |
  Dif(null, H = exogenous) | (0.391) | (0.258) | (0.132) | (0.280) | (0.434) | (0.125) | (0.333) | (0.248) | (0.217) | (0.292) |
 (b) IV (years, eq(diff)) | ||||||||||
  H excluding group | (0.288) | (0.401) | (0.154) | (0.697) | (0.444) | (0.569) | (0.534) | (0.119) | (0.313) | (0.249) |
  Dif(null, H = exogenous) | (0.163) | (0.081) | (0.043) | (0.020) | (0.043) | (0.007) | (0.058) | (0.274) | (0.126) | (0.099) |
Fisher | 18,268.85*** | 39,079.78*** | 1298.48*** | 42,611.09*** | 10,724.99*** | 5782.34** | 59.91*** | 162,393*** | 32,257*** | 26.20*** |
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 |