Research Article
Influence of Exchange Rate on Foreign Direct Investment Inflows: An Empirical Analysis Based on Co-Integration and Granger Causality Test
| Variables | ADF test (P) | Stationarity |
| lnUSAFDI | 0.2514 | Unsteady | lnUSDCNY | 0.0034 | Steady | lnWAGE | 0.9946 | Unsteady | lnGDPX | 0.0037 | Steady | lnFGDPX | 0.9383 | Unsteady | lnTMX | 0.9949 | Unsteady | lnBSGDP | 0.6178 | Unsteady | DlnUSAFDI | 0.0007 | Steady | DlnUSDCNY | 0.0004 | Steady | DlnWAGE | 0.0387 | Steady | DlnGDPX | 0.0009 | Steady | DlnFGDPX | 0.0001 | Steady | DlnTMX | ≤0.001 | Steady | DlnBSGDP | 0.0033 | Steady |
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