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: welfare total factor productivity (welfare real TFP) | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Trade imports (imports) | Trade exports (exports) | |||||||||
Welfare real TFP (− 1) | 0.597*** (0.000) | 0.524*** (0.000) | 0.562*** (0.000) | 0.617*** (0.000) | 0.668*** (0.000) | 0.589*** (0.000) | 0.457*** (0.000) | 0.568*** (0.000) | 0.625*** (0.000) | 0.611*** (0.000) |
FDI | 0.014 (0.179) | 0.010 (0.107) | 0.020* (0.054) | 0.020** (0.026) | 0.023** (0.025) | 0.042*** (0.000) | 0.024*** (0.000) | 0.030*** (0.000) | 0.037*** (0.000) | 0.037*** (0.000) |
Imports | 0.002** (0.022) | 0.002** (0.028) | 0.001 (0.141) | 0.003** (0.016) | 0.002*** (0.005) | – | – | – | – | – |
Exports | – | – | – | – | – | 0.005*** (0.000) | 0.006*** (0.000) | 0.003*** (0.000) | 0.005*** (0.000) | 0.004*** (0.002) |
FDI × imports | − 0.0003 (0.150) | − 0.0002* (0.097) | − 0.0004* (0.055) | − 0.0004** (0.030) | − 0.0004** (0.028) | – | – | – | – | – |
FDI × exports | – | – | – | – | – | − 0.001*** (0.000) | − 0.0006*** (0.000) | − 0.0009*** (0.000) | − 0.001*** (0.000) | − 0.001*** (0.001) |
Education | – | − 0.051 (0.593) | – | – | – | – | − 0.274*** (0.002) | – | – |  |
Gov’t expenditure | – | – | 0.006** (0.032) | – | – | – | – | 0.005*** (0.001) | – | – |
Remittances | – | – | – | − 0.003 (0.119) | – | – | – | – | 0.0007** (0.013) | – |
Private credit | – | – | – | – | − 0.002*** (0.005) | – | – | – | – | − 0.0008 (0.231) |
Time effects | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Net effects | na | na | 0.003 | na | 0.006 | 0.013 | 0.006 | 0.004 | 0.008 | 0.008 |
AR(1) | (0.015) | (0.129) | (0.020) | (0.046) | (0.021) | (0.019) | (0.047) | (0.043) | (0.027) | (0.048) |
AR(2) | (0.752) | (0.403) | (0.327) | (0.700) | (0.292) | (0.513) | (0.120) | (0.333) | (0.791) | (0.789) |
Sargan OIR | (0.265) | (0.138) | (0.244) | (0.164) | (0.325) | (0.164) | (0.743) | (0.105) | (0.282) | (0.033) |
Hansen OIR | (0.233) | (0.311) | (0.155) | (0.538) | (0.313) | (0.375) | (0.702) | (0.302) | (0.602) | (0.256) |
DHT for instruments | ||||||||||
 (a) Instruments in levels | ||||||||||
  H excluding group | (0.236) | (0.241) | (0.157) | (0.105) | (0.141) | (0.074) | (0.107) | (0.075) | (0.388) | (0.261) |
  Dif(null, H = exogenous) | (0.248) | (0.360) | (0.216) | (0.797) | (0.458) | (0.607) | (0.932) | (0.567) | (0.604) | (0.281) |
 (b) IV (years, eq(diff)) | ||||||||||
  H excluding group | (0.385) | (0.521) | (0.354) | (0.523) | (0.463) | (0.191) | (0.678) | (0.313) | (0.651) | (0.196) |
  Dif(null, H = exogenous) | (0.157) | (0.134) | (0.079) | (0.426) | (0.172) | (0.753) | (0.494) | (0.319) | (0.354) | (0.473) |
Fisher | 73.14*** | 48,585*** | 349.64*** | 338.17*** | 291.64*** | 8278.98*** | 75.68*** | 14,174.99*** | 321.88*** | 245.75*** |
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 |