Explanatory variable: China’s exports to the host country | (1) | (2) | (3) | (4) | (5) | (6) |
---|---|---|---|---|---|---|
1-year lag of OFDI stock | −0.038 (−0.64) | – | – | −0.019 (−0.42) | – | – |
2-year lag of OFDI stock | – | −0.056 (−0.83) | – | – | −0.020 (−0.44) | – |
3-year lag of OFDI stock | – | – | −0.078 (−1.00) | – | – | −0.013 (−0.32) |
Control variables in the gravity model | Yes | Yes | Yes | Yes | Yes | Yes |
Individual fixed effect | No | No | No | Yes | Yes | Yes |
N | 339 | 306 | 274 | 339 | 306 | 274 |
R 2 | 0.549 | 0.549 | 0.550 | 0.980 | 0.983 | 0.987 |