China’s Outward Foreign Direct Investment and Bilateral Trade Potential: A Theoretical and Empirical Study

Table 4

Robustness tests.

Variables	Instrumental variable method			Sample staging test
	CTP	CEP	CIP	CTP	CEP	CIP
	(1)	(2)	(3)	(4)	(5)	(6)
lnOFDI	0.015 (0.002)	0.017 (0.002)	0.015 (0.003)	0.012 (0.001)	0.0107 (0.002)	0.016 (0.003)
Control variables	Yes	Yes	Yes	Yes	Yes	Yes
Time effects	Yes	Yes	Yes	Yes	Yes	Yes
Individual effects	Yes	Yes	Yes	Yes	Yes	Yes
Obs.	845	845	845	265	265	265
R^2	0.490	0.375	0.507	0.723	0.608	0.657
F-statistics	48.44 (0.000)	25.50 (0.000)	48.18 [0.000]	50.39 (0.000)	29.93 (0.000)	37.06 (0.000)

Note. , , and mean that the variables are significant at 1%, 5%, and 10% level, respectively; standard deviations are shown in parentheses.