Statistics | Full sample | Eurozone | Non-Eurozone | Full sample | Eurozone | Non-Eurozone |
---|---|---|---|---|---|---|
Ā | FDII | FDIO | ||||
Panel A: Westerlund [46] | ||||||
Gt | āĀ 3.081*** | āĀ 3.575*** | āĀ 4.095*** | āĀ 4.305*** | āĀ 4.311*** | āĀ 4.298*** |
Ga | āĀ 30.310*** | āĀ 29.435*** | āĀ 31.318*** | āĀ 33.322*** | āĀ 33.528*** | āĀ 33.072*** |
Pt | āĀ 19.070*** | āĀ 14.754*** | āĀ 11.802*** | āĀ 18.175*** | āĀ 17.007*** | āĀ 11.414*** |
Pa | āĀ 33.770*** | āĀ 35.131*** | āĀ 30.959*** | āĀ 30.096*** | āĀ 33.694*** | āĀ 24.423*** |
Ā | t-statistics | t-statistics | ||||
---|---|---|---|---|---|---|
Panel B: Kao [45] | ||||||
ADF | āĀ 1.7864** | āĀ 2.0875** | āĀ 4.1148*** | āĀ 2.0702** | āĀ 1.7136** | āĀ 4.0320*** |
Residual Variance | 86.3960 | 92.9420 | āĀ 72.8580 | 81.6870 | 94.1830 | 63.7808 |
HAC Variance | 10.6840 | 13.1410 | 17.3038 | 11.6675 | 11.9070 | 18.7043 |