Table 4 The influence of ODA on domestic investment with institutional quality

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)
Variables	ln_gcf	ln_gcf	ln_gcf	ln_gcf	ln_gcf	ln_gcf	ln_gcf
L.ln_oda	0.219^**	0.369^**	0.0883^*	0.295^**	0.260^**	0.219^***	0.231^**
	(0.119)	(0.123)	(0.158)	(0.154)	(0.109)	(0.0655)	(0.149)
L.ln_gdp per Capita	0.0385^*	0.0416^**	0.0301^*	0.0409^**	0.0341^**	0.0264^*	0.0215^**
	(0.0216)	(0.0178)	(0.0198)	(0.0181)	(0.0195)	(0.0168)	(0.0162)
ln_natres	0.0951	0.162^*	0.133^*	0.149^**	0.0989	0.0716	0.0748
	(0.0931)	(0.0805)	(0.0745)	(0.0585)	(0.0735)	(0.0675)	(0.0696)
ln_tradeopen	0.122	0.128	0.186^*	0.104	0.102	0.119	0.0967
	(0.0781)	(0.0794)	(0.101)	(0.0680)	(0.0834)	(0.0796)	(0.0690)
ln_tel	–0.240	–0.240	–0.0986	–0.225	–0.167	–0.151	–0.147
	(0.175)	(0.163)	(0.170)	(0.165)	(0.142)	(0.142)	(0.149)
ln_edu	0.0984^*	0.131^**	0.0630^*	0.0756^*	0.0302^**	0.269^***	0.117^**
	(0.243)	(0.260)	(0.274)	(0.267)	(0.232)	(0.222)	(0.268)
COC	–0.765^*						0.827
	(0.408)						(0.488)
oda_coc	0.347^***						0.295^**
	(0.106)						(0.135)
GE		0.951^**					0.151
		(0.430)					(0.615)
Oda×Ge		0.451^***					0.0544^**
		(0.142)					(0.261)
PS			0.148^*				0.541^**
			(0.220)				(0.191)
Oda×_Ps			0.111^*				0.164^**
			(0.0766)				(0.0619)
RQ				0.864^*			0.475
				(0.402)			(0.450)
Oda×Rq				0.422^**			0.0596^**
				(0.148)			(0.135)
RL					0.753^*		0.00854
					(0.404)		(0.700)
Oda×Rl					0.374^**		0.0217
					(0.124)		(0.220)
VA						1.004^**	1.252^**
						(0.343)	(0.700)
oda_×Va						0.451^***	0.511^*
						(0.114)	(0.237)
Constant	2.273^**	1.918^**	1.867^*	2.118^**	2.121^**	2.553^***	2.375^**
	(0.824)	(0.734)	(0.907)	(0.764)	(0.772)	(0.584)	(0.808)
Observations	325	325	325	325	325	325	325
R-squared	0.352	0.361	0.331	0.346	0.371	0.434	0.480
Number of countries	13	13	13	13	13	13	13

Note: 1) Country and year dummies are controlled for in all the regressions. Clustered standard errors by country are reported in parentheses.
2) denote estimates that are statistically significant at the 10%,
5%,
1% levels, respectively.
3) ODA, Official Development Assistance; COC, Control of Corruption; GE, Government Effectiveness; PS, Political Stability; RQ, Regulatory Quality; RL, Rule of Law; VA, Voice and Accountability.