Table 4 Results using GDP as an alternative measurement of market size
From: Does distance matter in foreign direct investment sub-national location choice? Evidence from China
Y: ln(FDIijt + 1) | OLS (Pooled) | OLS (Random effect) | Tobit | Heckman | PPML |
|---|---|---|---|---|---|
lnDISTijt | 1.212*** (13.87) | 0.947*** (4.46) | 1.159*** (4.08) | 0.987*** (10.82) | 0.698*** (11.32) |
CULTij | 1.320*** (5.30) | 2.481* (2.32) | 2.701 (1.91) | 1.185*** (4.69) | 0.260 (1.26) |
SIMIijt–1 | − 5.171*** (−6.83) | −7.528*** (−6.03) | −10.42*** (− 6.02) | − 0.445 (− 1.19) | 7.398*** (6.98) |
lnGDPit–1 | 0.502*** (7.45) | 0.230 (1.62) | 0.275 (1.45) | 0.398*** (5.67) | 0.638*** (7.51) |
lnGDPjt–1 | 0.882*** (5.35) | 0.878*** (3.60) | 1.207*** (3.63) | −0.100 (− 0.86) | − 0.947*** (−5.68) |
lnGDP_pcit–1 | 2.007*** (10.12) | 1.147*** (4.53) | 1.493*** (4.33) | 1.646*** (14.61) | 1.520*** (9.94) |
lnGDP_pcjt–1 | −3.136*** (− 30.08) | − 3.037*** (− 10.24) | −3.794*** (−9.65) | −2.021*** (− 12.95) | −0.971*** (− 19.81) |
RDit–1 | 3.560*** (6.97) | 4.198*** (3.68) | 5.296*** (3.44) | 1.534*** (6.00) | −1.152** (− 3.14) |
BAjt–1 | 1.159*** (4.85) | 0.129 (0.53) | 0.199 (0.59) | 0.669*** (6.21) | 0.319 (1.00) |
Constant | −17.42*** (−5.98) | − 1.29 (−0.38) | −6.276 (− 1.45) | −12.65*** (− 5.88) | 2.574 (1.34) |
Observation | 4351 | 4351 | 4351 | 4427 | 4351 |