Research Article
China’s Outward Foreign Direct Investment and Bilateral Trade Potential: A Theoretical and Empirical Study
Table 2
Regression results of the gravity model.
| | Variables | CTRA | CEXP | CIMP | | (1) | (2) | (3) | (4) | (5) | (6) |
| | lnGDP | 0.924 (0.023) | 0.859 (0.028) | 0.885 (0.022) | 0.786 (0.027) | 1.170 (0.035) | 1.132 (0.047) | | lnCGDP | 1.136 (0.059) | 6.435 (0.511) | 1.156 (0.057) | 5.546 (0.479) | 1.305 (0.090) | 9.290 (0.842) | | lnRDIS | −0.938 (0.067) | −1.100 (0.084) | −0.767 (0.065) | −0.784 (0.079) | −1.404 (0.103) | −1.950 (0.139) | | lnPOP | | 0.138 (0.029) | | 0.190 (0.027) | | 0.0915 (0.048) | | lnCPOP | | −132.4 (12.57) | | −110.1 (11.77) | | −198.4 (20.71) | | BOR | | 0.601 (0.099) | | 0.676 (0.093) | | 0.197 (0.163) | | Constant | −12.58 (1.129) | 2703.2 (258.3) | −14.51 (1.083) | 2242.9 (241.9) | −16.46 (1.720) | 4057.5 (425.6) | | Obs. | 896 | 896 | 896 | 896 | 896 | 896 | | R2 | 0.697 | 0.774 | 0.699 | 0.786 | 0.610 | 0.660 |
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Notes. , , and mean that the variables are significant at the 1%, 5%, and 10% level, respectively; standard deviations are shown in parentheses. |
