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Table 2 Panel unit root test (Levin, Lin & Chu t*).

From: Migrant’s remittance and investment financing nexus in Africa: Does investment climate matter?

Variables

At level

First difference

Statistic

Prob.**

Level of Int

Statistic

Prob.**

Level of Int

INV

− 4.780

0.000

I (0)

REM

0.295

0.616

I (0)

− 7.118

0.000

I (1)

GOVSIZE

− 1.716

0.043

I (0)

OPENMAK

− 2.924

0.002

I (0)

REGEFF

− 3.326

0.0004

I (0)

RULAW

− 12.657

0.000

I (0)

CRED

− 0.643

0.260

I (0)

INTR

0.285

0.612

I (0)

GROWTH

− 5.084

0.000

I (0)

TRAD

− 10.732

0.000

I (0)

  1. INV private investment, REM remittance, Cred credit to private sector, INTR interest rate, Growth GDP growth rate, TRAD trade openness, RULAW Rule of Law, GOVSIZE government size, REGEFF regulatory efficiency, OPENMAK open market