GDP-SUM | 0.971 | 0.971 | 0.971 | 0.971 |
GDP-DIFF | 0.037 (0.041) | 0.037 (0.041) | 0.037 (0.041) | 0.037 (0.041) |
HC-DIFF | 0.435 | 0.435 | 0.435 | 0.435 |
DISTANCE | −0.913 | −0.913 | −0.913 | −0.913 |
TFsource | 0.076 | 0.076 | 0.076 | 0.076 |
TFUkraine | −0.123 (0.302) | −0.313 (0.312) | −0.313 (0.312) | −0.113 (0.310) |
IFUkraine | 0.015 (0.096) | 0.025 (0.097) | 0.025 (0.097) | 0.009 (0.097) |
STAB | 0.289 (0.453) | |||
DEMOC | Omitted N/A | |||
AUTOC | Omitted N/A | |||
POLITY | 0.179 (0.281) | |||
Constant | 3.112 (26.290) | 18.736 (27.531) | 18.736 (27.531) | 1.124 (28.722) |
Time effects | Yes | Yes | Yes | Yes |
Observations | 700 | 700 | 700 | 700 |
0.063 | 0.063 | 0.063 | 0.063 |
POLITY | 1 | ||||||||||
AUTOC | 1 | −1 | |||||||||
DEMOC | 1 | −1 | 1 | ||||||||
STAB | 1 | 0.992 | −0.992 | 0.992 | |||||||
IFCUkraine | 1 | 0.061 | 0.000 | 0.000 | 0.000 | ||||||
TFsource | 1 | 0.050 | −0.986 | −0.972 | 0.972 | −0.972 | |||||
TF | 1 | 0.020 | 0.014 | −0.022 | −0.025 | 0.025 | −0.025 | ||||
DISTANCE | 1 | −0.120 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |||
GDP SUM | 1 | 0.011 | 0.046 | 0.001 | 0.009 | 0.000 | −0.001 | 0.001 | −0.001 | ||
HC-DIFF | 1 | −0.133 | 0.050 | 0.035 | −0.005 | −0.003 | 0.006 | 0.006 | −0.006 | 0.006 | |
GDP-DIFF | 1 | −0.058 | 0.937 | 0.041 | 0.029 | 0.008 | 0.007 | −0.009 | −0.010 | 0.010 | −0.010 |
Variable | GDP-DIFF | HC-DIFF | GDP SUM | DISTANCE | TFsource | TFUkraine | IFUkraine | STAB | DEMOC | AUTOC | POLITY |
GDP-SUM | 0.884 | 0.884 | 0.884 | 0.884 |
GDP-DIFF | 0.055 (0.041) | 0.055 (0.041) | 0.055 (0.041) | 0.055 (0.041) |
HC-DIFF | 0.411 | 0.411 | 0.411 | 0.411 |
DISTANCE | −0.893 | −0.893 | −0.893 | −0.893 |
TFsource | 0.091 | 0.091 | 0.091 | 0.091 |
TFUkraine | −0.149 (0.368) | −0.149 (0.368) | −0.149 (0.368) | Omitted N/A |
IFUkraine | 0.021 (0.065) | 0.021 (0.065) | 0.021 (0.065) | 0.014 (0.072) |
STAB | Omitted N/A | |||
DEMOC | Omitted N/A | |||
AUTOC | Omitted N/A | |||
POLITY | 0.147 (0.363) | |||
Constant | 221.094 (369.924) | 221.094 (369.624) | 221.094 (369.624) | 155.140 (483.417) |
Time effects | Yes | Yes | Yes | Yes |
Observations | 700 | 700 | 700 | 700 |
0.068 | 0.068 | 0.068 | 0.068 |
FDI | Bilateral direct investment equity stock data from non-resident entities, includes investment by a direct investor in its direct investment enterprise (immediate or not), retail funds, real estate investment (including investment properties and vacation homes), pass-through transactions, transactions that reach or surpass the threshold of 10 percent or more voting power, reverse investment by a direct investment enterprise in its own immediate or indirect investor [ | State Statistics Service of Ukraine |
GDP-SUM | Log of GDP sum (in $US million) | Penn |
GDP-DIFF | Log of squared GDP difference (in $US million) | |
HC-DIFF | Log of human capital difference, adjusted for the number of employed population | |
DISTANCE | Log of geographical distance between the source and host countries (between capital cities, in km) | CEPII |
TF | Trade freedom index | Heritage |
IF | Investment freedom index | Foundation |
STAB | Political Stability and Absence of Violence/Terrorism index that measures perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism | Worldwide |
DEMOC | Democracy index that measures the presence of democratic institutions and procedures, governance constraints, civil liberties and degree of political participation | Center for Systemic Peace |
AUTOC | Autocracy index that measures the governance properties such as lack of regularized political competition and concern for political and civil freedoms | |
POLITY | Polity index is measured as a difference between democracy and autocracy indices, it scores country's political system between +10 (strongly democratic) to −10 (strongly autocratic) |
GDP-SUM | 0.885 | 0.885 | 0.885 | 0.885 |
GDP-DIFF | 0.055 (0.041) | 0.055 (0.041) | 0.055 (0.041) | 0.055 (0.041) |
HC-DIFF | 0.411 | 0.411 | 0.411 | 0.411 |
DISTANCE | −0.895 | −0.893 | −0.893 | −0.895 |
TFsource | 0.091 | 0.091 | 0.091 | 0.091 |
TFUkraine | 1.130 (2.235) | 0.511 (1.211) | 0.511 (1.211) | 0.511 (1.211) |
IFUkraine | −0.030 (0.074) | −0.007 (0.055) | −0.007 (0.055) | −0.007 (0.055) |
STAB | 1.946 (3.020) | |||
DEMOC | 1.293 (1.882) | |||
AUTOC | −1.293 (1.882) | |||
POLITY | 0.646 (0.941) | |||
Constant | −101.188 (184.833) | −58.723 (112.411) | −50.960 (101.417) | −54.842 (106.907) |
Time effects | No | No | No | No |
Observations | 700 | 700 | 700 | 700 |
0.068 | 0.068 | 0.068 | 0.068 |
GDP-SUM | 0.969 | 0.970 | 0.970 | 0.970 |
GDP-DIFF | 0.037 (0.041) | 0.037 (0.041) | 0.037 (0.041) | 0.037 (0.041) |
HC-DIFF | 0.435 | 0.435 | 0.435 | 0.435 |
DISTANCE | −0.913 | −0.913 | −0.912 | −0.912 |
TFsource | 0.075 | 0.076 | 0.076 | 0.076 |
TFUkraine | −0.143 (0.281) | −0.125 (0.295) | −0.125 (0.295) | −0.125 (0.295) |
IFUkraine | 0.008 (0.088) | 0.004 (0.088) | 0.004 (0.088) | 0.004 (0.088) |
STAB | 0.202 (0.455) | |||
DEMOC | 0.365 (0.560) | |||
AUTOC | −0.365 (0.560) | |||
POLITY | 0.182 (0.280) | |||
Constant | 4.998 (24.35) | 1.100 (27.488) | 3.296 (25.52) | 2.198 (26.472) |
Time effects | No | No | No | No |
Observations | 700 | 700 | 700 | 700 |
0.063 | 0.063 | 0.063 | 0.063 |
Albania, Algeria, Angola, Argentina, Armenia, Australia, Austria, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Bolivia, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Central African Republic, Chile, China, Colombia, Costa-Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, D.R. of the Congo, Ecuador, El Salvador, Estonia, Ethiopia, Finland, Fiji, France, Gabon, Gambia, Germany, Ghana, Greece, Guatemala, Haiti, Honduras, Hungary, Hong Kong, Japan, Jamaica, Jordan, India, Indonesia, Italy, Iran, Iraq, Israel, Kazakhstan, Kenya, Kyrgyzstan, Kuwait, Latvia, Lesotho, Liberia, Lithuania, Luxembourg, Macau, Madagascar, Malaysia, Mali, Malawi, Maldives, Malta, Mauritius, Mauritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Pakistan, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Korea (Rep of), Romania, Rwanda, Saudi Arabia, Senegal, Serbia, Sierra Leone, Singapore, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Syria, Sudan, Swaziland, Sweden, Switzerland, Tanzania, Taiwan, Tajikistan, Thailand, Togo, Trinidad and Tobago, Tunisia, Turkey, Venezuela, Vietnam, Yemen, Ukraine, Uruguay, Uganda, United Arab Emirates, United Kingdom, United States, Zambia, Zimbabwe |
FDI | 245.099 | 1204.861 | 0 | 17725.6 |
GDP-SUM | 13.508 | 0.740 | 12.850 | 16.779 |
GDP-DIFF | 25.500 | 2.242 | 12.496 | 33.407 |
HC-DIFF | −1.095 | 1.960 | −8.390 | 3.197 |
DISTANCE | 5712.067 | 3755.745 | 399.460 | 17284.29 |
TFsource | 76.825 | 10.596 | 40.6 | 90 |
TFUkraine | 85.62 | 0.627 | 84.4 | 86.2 |
IFUkraine | 20 | 3.164 | 15 | 25 |
STAB | −1.698 | 0.463 | −2.02 | −0.78 |
DEMOC | 5.2 | 0.400 | 5 | 6 |
AUTOC | 0.8 | 0.400 | 0 | 1 |
POLITY | 4.4 | 0.800 | 4 | 6 |