Table 7 Contribution of foreign aid to domestic investment (CCEPMG).
From: Revisited the role of foreign aid in capital formation: experience of South Asian countries
Variables | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
Constant | 1.43** (0.54) | 1.34** (0.43) | 2.35** (0.72) | 3.55** (0.64) | 2.55* (1.09) | 2.93** (0.95) | 2.92* (0.98) |
G | 0.24** (0.07) | 0.51** (0.05) | 0.176 ** (0.05) | 0.86** (0.26) | 0.44** (0.16) | 0.76** (0.22) | 0.68** (0.05) |
AID | −0.71* (0.31) | −1.21* (0.61) | −6.14* (0.72) | −1.31* (0.11) | −2.11** (0.72) | −3.12* (0.27) | −2.17** (0.08) |
LR | 0.14* (0.06) | 0.13 (0.14) | 0.160** (0.044) | 0.22** (0.8) | 0.17* (0.09) | 0.16** (0.05) | 0.21** (0.07) |
TD | 0.11* (0.04) | 0.035* (0.014) | 0.038** (0.01) | 0.05* (0.02) | 0.19* (0.08) | 0.04 (0.03) | 0.06* (0.03) |
REXC | −0.03** (0.01) | −0.05** (0.01) | −0.04** (0.02) | −0.03 (0.02) | −0.06* (0.03) | −0.04** (0.01) | −0.02 (0.03) |
DC | 0.22** (0.03) | 0.24* (0.09) | 0.15** (0.03) | 0.18** (0.05) | 0.22** (0.06) | 0.23** (0.05) | 0.22** (0.05) |
AID*DC | – | 0.054* (0.02) | – | – | – | – | – |
AID*EXD | – | – | 0.17** (0.08) | – | – | – | – |
AID*FDI | – | – | – | 1.02** (0.36) | – | – | – |
AID*TD | – | – | – | – | 0.045** (0.009) | – | – |
AID*GEXP | – | – | – | – | – | 0.14** (0.03) | – |
AID*HUM | – | – | – | – | – | – | 0.037** (0.01) |
Short-run coefficients | |||||||
DGt − 1 | −0.06* (−0.03) | −0.05* (−0.02) | −0.02 (0.03) | −0.05* (0.02) | −0.03 (0.04) | −0.07* (0.03) | −0.05* (0.02) |
DAID | 0.18* (0.09) | 0.15* (0.07) | 0.18* (0.07) | 0.16** (0.05) | 0.18* (0.08) | 0.13 (0.11) | 0.13* (0.05) |
DLR | −0.03** (0.01) | −0.02 (0.04) | −0.04* (0.01) | −0.05* (0.02) | −0.03 (0.03) | −0.04* (0.02) | −0.05* (0.01) |
DTD | −0.02 (0.03) | −0.04 (0.07) | −0.03 (0.03) | −0.04 (0.07) | −0.03 (0.03) | −0.05 (0.05) | −0.04 (0.03) |
DREXC | 0.02 (0.02) | −0.01 (0.05) | 0.02 (0.02) | 0.03 (0.04) | −0.01 (0.04) | −0.02 (0.07) | 0.01 (0.03) |
DDC | 0.07* (0.03) | 0.06 (0.04) | 0.08* (0.04) | 0.03 (0.04) | 0.07* (0.03) | 0.06* (0.03) | 0.05* (0.02) |
Net effect | – | 0.46 | −0.19 | 0.46 | 0.63 | −0.18 | 0.09 |
ECT | −0.12* | −0.14 | −0.08* | −0.19* | −0.18 | −0.12* | −0.17* |
Hausman test | 0.56 | 0.43 | 0.38 | 0.45 | 0.67 | 0.32 | 0.42 |
ADJ. R2 | 0.62 | 0.64 | 0.61 | 0.66 | 0.63 | 0.62 | 0.59 |
CD | 0.77 | 0.54 | 0.58 | 0.82 | 0.99 | 0.65 | 0.87 |
