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Table 4 Panel cointegration tests

From: Does COVID-19 shock endanger the flows of FDI in OECD? Empirical evidence based on AMG panel estimator

Statistics

Full sample

Eurozone

Non-Eurozone

Full sample

Eurozone

Non-Eurozone

Ā 

FDII

FDIO

Panel A: Westerlund [46]

Gt

āˆ’Ā 3.081***

āˆ’Ā 3.575***

āˆ’Ā 4.095***

āˆ’Ā 4.305***

āˆ’Ā 4.311***

āˆ’Ā 4.298***

Ga

āˆ’Ā 30.310***

āˆ’Ā 29.435***

āˆ’Ā 31.318***

āˆ’Ā 33.322***

āˆ’Ā 33.528***

āˆ’Ā 33.072***

Pt

āˆ’Ā 19.070***

āˆ’Ā 14.754***

āˆ’Ā 11.802***

āˆ’Ā 18.175***

āˆ’Ā 17.007***

āˆ’Ā 11.414***

Pa

āˆ’Ā 33.770***

āˆ’Ā 35.131***

āˆ’Ā 30.959***

āˆ’Ā 30.096***

āˆ’Ā 33.694***

āˆ’Ā 24.423***

Ā 

t-statistics

t-statistics

Panel B: Kao [45]

ADF

āˆ’Ā 1.7864**

āˆ’Ā 2.0875**

āˆ’Ā 4.1148***

āˆ’Ā 2.0702**

āˆ’Ā 1.7136**

āˆ’Ā 4.0320***

Residual Variance

86.3960

92.9420

āˆ’Ā 72.8580

81.6870

94.1830

63.7808

HAC Variance

10.6840

13.1410

17.3038

11.6675

11.9070

18.7043

  1. ***, **, and * represent the significance of the unit root model at the 1, 5, and 10% levels