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

Table 5

Results of models A, D, E, and F by the GMM.

Explained variable	logpgdp	loggerd	logmfp	logpgdp
Variables	(Model A)	(Model D)	(Model E)	(Model F)
L.logpgdp	0.862			0.561
	(0.0195)			(0.0400)
ofdi	0.0152	0.0106	0.00730	0.00694
	(0.00428)	(0.00621)	(0.00413)	(0.00246)
logks	−0.217	−0.256	−0.0519	−0.268
	(0.0163)	(0.0549)	(0.0296)	(0.0373)
logl	−0.0348	0.0911	0.0118	0.00464
	(0.00956)	(0.0864)	(0.0370)	(0.0245)
logh	0.243	−0.0248	−0.0378	0.147
	(0.0495)	(0.129)	(0.0317)	(0.0815)
logge	−0.00943	−0.0377	0.00438	−0.00321
	(0.00246)	(0.0123)	(0.00335)	(0.00239)
L.loggerd		0.916
		(0.0471)
loggerd			0.00804	0.00584
			(0.00994)	(0.0131)
L.logmfp			0.728
			(0.106)
logmfp				1.021
				(0.0958)
Constant	1.340	0.250	1.195	−0.324
	(0.176)	(0.552)	(0.383)	(0.466)
Observations	364	364	308	308
Sargan	1	1	1	1
AR (5)	0.9499	0.7359	0.3311	0.1897
Number of code	26	26	22	22

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