Contribution of China’s OFDI to Economic Growth of Developed Host Countries and Its Mechanism

Table 3

Results of model A by five methods.

Explained variable	D.logpgdp	D.logpgdp	D.logpgdp	D.logpgdp	logpgdp
Variables	(Pooled OLS)	(Random effect)	(Fixed effect)	(Robust fixed effect)	(GMM)
L.logpgdp					0.862
					(0.0195)
D.ofdi/ofdi	0.000861	0.000910	0.000373	0.000373	0.0152
	(0.00279)	(0.00481)	(0.00428)	(0.00224)	(0.00428)
D.logks/logks	−0.677	−0.917	−0.973	−0.973	−0.217
	(0.127)	(0.0296)	(0.0269)	(0.0237)	(0.0163)
D.logl/logl	0.474	0.351	0.316	0.316	−0.0348
	(0.122)	(0.0610)	(0.0553)	(0.101)	(0.00956)
D.logh/logh	−0.00809	−0.211	−0.235	−0.235	0.243
	(0.220)	(0.158)	(0.141)	(0.0982)	(0.0495)
logge	0.00751	0.00691	−0.00174	−0.00174	−0.00943
	(0.0114)	(0.00322)	(0.00450)	(0.00778)	(0.00246)
Constant	0.00631	0.00869	0.0115	0.0115	1.340
	(0.00609)	(0.00225)	(0.00159)	(0.00234)	(0.176)
Observations	364	364	364	364	364
R-squared	0.448		0.803	0.803
Sargan					1
AR (5)					0.9499
Number of code		26	26	26	26

Robust standard errors in parentheses  < 0.01,  < 0.05, and  < 0.1.