A Dynamic Model for determining Inward Foreign ... - Business School

Table 8 (part: b): Estimates of the VECM and VAR for Inward Foreign Direct Investment in Short and Long Run
Variables IS Equation GS Equation INF Equation INT Equation GDP Equation
Short-run Long-run Short-run Long-run Short-run Long-run Short-run Long-run Short-run Long-run
FDI
FR
ER
PR
BS
SS
IS
GS
INF
INT
-2.41573 4.170897 -2.30647 -11.6267 6.290668 -65.7163* 220.6307* -377.194* 526.706*** 0.083573**
0.014498 -0.00477 0.005592 0.013543 -0.01465 0.018601 0.052862 -0.00541 0.191129 0.000269
-0.01844 -0.00942 -0.01909* 0.025153 0.049816* -0.00207 0.061526 -0.32065 0.176253 3.07E-05
-0.01486 0.004191 -0.01153 -0.01404 0.032584 0.149825 0.166238 0.205616 0.438684 -6.82E-06
-4.33729 -4.07269 -7.33197 10.96304 19.62065 8.623752 -155.459* 397.48 338.6473** 0.132226
-5.36268*** 0.241972 -3.82368*** -0.97456 10.64303*** 18.59765 -35.372 79.62014 82.69469** 0.083573**
-10.299*** 2.455609* -6.08664*** -7.29357 16.22712** -12.8238 -184.649*** 74.15281 231.4844*** -0.12228
-7.09607* -0.37447 -6.09448*** 0.586294 16.42828** 6.899991 -133.784*** 191.0597 233.6194*** 0.034507
-0.00212 0.008562 0.000812 -0.02432 -0.00542 0.151846 -0.51827** 0.035628 0.368117 0.000405
0.008108 0.000901 0.006749* -0.00164 -0.01735 0.043507 0.086024 -0.11008 -0.19278* 0.000101
GDP -13.6764 -3.68304 -8.41064 9.162577 22.52664 51.29052 306.119* -331.765 -217.217 -0.00559
Significant at 10% (*), 5% (**) and 1% (***)
29