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CHAPTER 4 RESULTS This section evaluates the relationship between political stability and FDI inflows, moderated by regime type (autocracy). Summary statistics, including mean, median, and standard deviation, will be presented first. Next, the correlation matrix and VIF tests will check for multicollinearity. The Hausman test results will follow, determining whether a random or fixed effects model is applicable. Finally, regression results will be presented, where the first model examines political stability's effect on FDI without moderation, and the second includes the moderating effect of regime type. 4.1 Descriptive Statistics The dataset covers 140 countries from 2012 to 2022 and includes variables such as FDI inflow, political stability, regime type, trade openness, GDP growth, inflation rate, and property rights. Table 1. Descriptive statistics of variables (Obs. = 1540) Variable type Variable Mean Std. Dev. Min Max Skewness Kurtosis Dependent lnFDIInflow s 21.32 2.29 10.92 26.96 -.23 3.48 Independent PS -0.09 0.87 -2.70 1.62 -0.36 2.60 Moderator Autocracy 0.41 0.49 0 1 0.37 1.13 Control GDPG 2.97 4.31 -36.4 17.4 -1.53 12.95 INF 6.02 21.24 -5.5 557.2 16.97 368.26 TO 88.40 58.57 2.70 442.62 2.70 442.62 PR 0.75 0.18 0.14 0.97 -1.20 4.09 For the dependent variable, the mean FDI inflow (in natural log form) is 21.32, with a standard deviation of 2.29, indicating moderate variability in FDI inflows across countries. The log-transformed values represent the natural logarithm of FDI inflows in current US dollars. For instance, the minimum value of 10.92 corresponds to approximately 55.6 million USD, while the maximum value of 26.96 corresponds to approximately 511.3 billion USD. This range highlights substantial variation in FDI inflows across countries, from relatively modest amounts in some economies to extremely high levels in others. The negative 26 skewness (-0.23) indicates most countries attract inflows, while the kurtosis (3.48) suggests slight clustering around the mean. Political stability has a mean of -0.09, with a slightly negative skew (-0.23) indicating moderate to higher stability for most countries. The kurtosis values for FDI (3.48) and political stability (2.60) suggest slight clustering around the mean and minimal extreme outliers. The dataset is differentiated by country's regime type, where 1 is autocracy and 0 is democratic. Autocracy has a mean of 0.41, suggesting that approximately 40% of the countries in the sample are differentiated as autocracies and the rest are democratic countries. The rest of the variables are control variables, where the average GDP growth rate is 2.97%, with a variation from a minimum of 36 percent contraction to a maximum of 17 percent growth. The negative skewness (-1.53), indicates that while most countries have moderate growth rates, a small number of countries experience severe negative growth.