Foreign direct investment, dual gap model and economic development in sub-Saharan Africa

Figures & data

Table 1. Descriptive statistics

	DOMINV	FDI	HDI	IM-EXP	INFR	ROI
Count	741	741	741	741	741	741
Mean	22.3725	5.40918	0.46657	−3.28 × 10^10*	35.6834	0.2126
Standard deviation	11.7132	11.9168	0.100729	3.57 × 10^11*	24.9419	0.1026
Coeff. of variation	52.3553%	220.307%	21.5893%	−1089.22%	69.8979%	482.407%
Minimum	1.9681	−6.5492	0.268	−4.4 × 10^12*	0.154853	0
Maximum	145.746	159.719	0.779	1.4 × 10^12*	99.4	0.78956
Range	144.649	165.774	0.511	5.8 × 10^12*	99.3845	0.78957
Skewness	43.4719	89.8878	7.15715	−88.336	7.9492	65.9003
Kurtosis	168.73	464.398	1.14229	407.427	−1.78289	192.923

* figures are presented in standard form.

Source: Authors (2019)

Table 2. Panel fixed effects coefficients standard

	Coefficients	Standard Error	t - ratio	Probability Value
Const	0.337369	0.5678	59.4156	<0.1
FDI	−0.22	0.225	−1.166	0.3097
INFR	0.3064	9.2383 × 10^−5*	33.1693	<0.1
ROI	0.893728	2.62919	0.3399	0.7340
DOMINV	0.927	0.201	4.6112	<0.1
IMEXP	0.023	0.16	−0.7565	0.4496

Error

* Figures are presented in standard form.

Source: Authors (2019)

Table 3. Model performance

Mean dependent var	0.466570	S.D. dependent var	0.100729
Sum squared resid	2.654283	S.E. of regression	0.60176
LSDV R-squared	0.646487	Within R-squared	0.631217
LSDV F(7, 733)	191.4965	p value(F)	8.2×10^−161*
Log-likelihood	1035.158	Akaike criterion	−2054.316
Schwarz criterion	−2017.452	Hannan-Quinn	−2040.104
Rho	0.905551	Durbin-Watson	0.175063

* Figures are presented in standard form.

Source: Authors (2019)

Figure 1. Correlation estimate coefficient of FDI and foreign exchange gap

Source: Authors (2019)

Figure 2. Correlation estimate coefficient of FDI and domestic investment

Source: Authors (2019)