[(ER).sub.cklt] = [[theta].sub.0] + [[theta].sub.1] [(ER88 - 97).sub.ckl] + [[theta].sub.3]Ln[(GDPpc
).sub.it] + [[theta].sub.5]Ln[(POP).sub.it] + [[theta].sub.10][Polity.sub.it] + F[E.sub.t] + F[E.sub.i] + [[xi].sub.it] (4)
To adjust for the pre-event differences among our sample firms, we include a variety of control variables, including ROA, TOP 10, and ASSET, which concern firm characteristics, and GDPPC
, INDUS, FDI, and ENVINV, which are related to the features of the regions where the sample firms are located.
(8) Other country-level institutions, GDPPC
, GDPGr STKCAP, and PO, also exhibit sizable cross-country variations.
To develop an indicator of rural and urban incomes for each country, we obtained historical data on the average GDPpc
of the population in the lowest 20% of the income distribution in each country (GDPpc20), in Purchasing Power Parity 2005 dollars (PPP$2005) (World Bank 2017) for each year with stunting data (matched as closely as possible, within a maximum of 5 y).
TABLE 3 Results of Random Effect Model Dependent variable: Ln GDPPC
Multinationals prefer the existence and availability of somewhat skilled labour for value addition of their products, and increasing GDPPC
besides the economic health of the host also signifies the education level and skill accretion of the population.
at: means very corrupt http://www.heritage.org/ and 100 very little index/explore?view=by- corrupt region-country-year gdppc
(ln) GDP per capita United Nations Openness (Exports + Penn World Table 8.0 imports)/GDP (Feenstra et al., 2013) corporate Host country World Bank, World tax (ln) corporate tax rate; Development Indicators, proxied by log of available at general government http://data.worldbank.org/ final consumption data-catalog/world- expenditure as a development-indicators percentage of GDP Table 8.
Looking at the table below, the mean and median have values similar to the GDPPC
, GDPGROW, PRICELVL, BANK, CREDPRIV, DISCINDEX, SHAREHD, LEGAL, PROCEDE, GASTOPRIM GASTOSEC, CPI and CORPTX variables.
The second variable is capacity to create welfare represented by gross domestic product per capita (GDPPC
) and labor participation rate (LPR).