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

Table 4

Results of models A, B, and C by the GMM.

Explained variable	logpgdp	logmfp	logpgdp
Variables	(Model A)	(Model B)	(Model C)
L.logpgdp	0.862		0.578
	(0.0195)		(0.0380)
ofdi	0.0152	0.00343	0.00833
	(0.00428)	(0.00365)	(0.00236)
logksg	−0.217	−0.0453	−0.323
	(0.0163)	(0.0248)	(0.0249)
logl	−0.0348	0.00348	0.00337
	(0.00956)	(0.0176)	(0.0264)
logh	0.243	0.0434	0.156
	(0.0495)	(0.0336)	(0.0720)
logge	−0.00943	0.0106	−0.000144
	(0.00246)	(0.00329)	(0.00264)
L.logmfp		0.761
		(0.0786)
logmfp			0.877
			(0.0380)
Constant	1.340	0.993	0.244
	(0.176)	(0.351)	(0.188)
Observations	364	308	308
Sargan	1	1	1
AR (5)	0.9499	0.3449	0.5482
Number of code	26	22	22

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