Table 3 Comparison of Wavelet test results: FR vs FDI for Global context.
Region | Short Term | Medium Term | Long Term |
|---|---|---|---|
All countries | FDI ↔ FR (+) | FDI ↔ FR (+) | FDI ↔ FR (+) |
Europe | Mixed Relationship | FR → FDI (+) | No-way |
Africa | FDI ↔ FR (+) | FDI ↔ FR (+) | FR → FDI (+) |
North America | FDI ↔ FR (+) | FDI ↔ FR (+) | FR → FDI (+) |
South America | FDI ↔ FR (+) | FDI ↔ FR (+) | FDI ↔ FR (+) |
Asia and Oceania | FDI ↔ FR (+) | FR → FDI (+) | FDI ↔ FR (+) |
