ANOTHER LINK IN THE CHAIN: MIGRANT NETWORKS AND INTERNATIONAL INVESTMENT
95
TABLE 2.3
Information and Heterogeneous Investments
Log (migrant stock) GDP(i)xGDP(j) Human capital (D) Log (distance) Log (bilateral trade) Common official language Capital controls (D) Correlation of growth rates Common currency peg Both in World Trade Organization Dual Taxation Treaty Polity score (D) Governance (D) Bilateral Preferential Trade Agreement Total Preferential Trade Agreements (D) Constant Observations
Portfolio
FDI
0.23** [0.15, 0.31] 0.56** [0.40, 0.72] 0.07* [ 0.01, 0.16] 0.25** [ 0.46, 0.03] 0.04 [ 0.11, 0.19] 0.99** [0.53, 1.44] 0.24 [ 0.54, 0.07] 0.85** [0.62, 1.09] 1.54** [0.98, 2.10] 0.18 [ 0.86, 0.50] 0.02 [ 0.30, 0.33] 0.07** [0.04, 0.11] 0.20** [0.14, 0.26] 0.29 [ 0.71, 0.12] 0.00 [ 0.00, 0.01] 27.06** [ 32.77, 21.34]
0.45** [0.36, 0.54] 0.14* [ 0.01, 0.29] 0.14** [ 0.23, 0.06] 0.29** [ 0.48, 0.10] 0.35** [0.17, 0.53] 0.16 [ 0.15, 0.47] 0.18 [ 0.45, 0.09] 0.78** [0.54, 1.01] 0.69** [0.22, 1.17] 0.18 [ 0.89, 0.52] 0.25 [ 0.16, 0.65] 0.00 [ 0.02, 0.03] 0.14** [0.09, 0.20] 0.73** [ 1.09, 0.37] 0.00 [ 0.01, 0.00] 9.30** [ 14.29, 4.32] 1,080
Source: Authorâ&#x20AC;&#x2122;s calculations. Note: Cell entries are seemingly unrelated regression estimates with bootstrapped 95 percent confidence intervals in square brackets. GDP = gross domestic product. * p < 0.10. ** p < 0.05.