**Table 14**

**Drivers of Gross Other Investment (OI) Inflows, 1980‐2017: Quantile Regressions** _Dependent Variable: GROSS Other Inflows, Total and By Type (% GDP) Sample: 104 countries, 1980‐2017 (annual)_

|Variables|10th|20th|30th|40th|50th|60th|70th|80th|90th|
|---|---|---|---|---|---|---|---|---|---|
|_Domestic Factors_||||||||||
|GDP Growth|0.00220|0.00196***|0.00138***|0.00139***|0.000815*|0.000774*|0.000613|4.75e-05|-0.000367|
||(0.00156)|(0.000720)|(0.000461)|(0.000443)|(0.000482)|(0.000460)|(0.000469)|(0.000728)|(0.00129)|
|GDP per capita|0.0239|0.0278|0.0261**|0.0213*|0.0144|0.00976|0.00798|0.00819|0.00190|
|_(in logs)_|(0.0397)|(0.0183)|(0.0117)|(0.0113)|(0.0123)|(0.0117)|(0.0119)|(0.0185)|(0.0329)|
|CPI Inflation|0.000225|6.43e-05|0.000198|0.000438**|0.000574**|0.000660***|0.000952***|0.00140***|0.00186***|
||(0.000752)|(0.000348)|(0.000223)|(0.000214)|(0.000233)|(0.000222)|(0.000226)|(0.000351)|(0.000625)|
|Primary Balance|-0.00228|-0.00116*|-0.000977**|-0.000832**|-0.000660|-0.000632|-0.000499|-0.000309|-0.000640|
|_(% of GDP)_|(0.00141)|(0.000652)|(0.000417)|(0.000401)|(0.000437)|(0.000417)|(0.000424)|(0.000659)|(0.00117)|
|Exchange rate flexibility|0.00158|0.000732|0.000233|-0.000246|-0.000622|-0.000936|-0.00114|-0.00135|-0.00157|
||(0.00246)|(0.00114)|(0.000727)|(0.000699)|(0.000761)|(0.000726)|(0.000740)|(0.00115)|(0.00204)|
|Investment Profile|0.00266|0.00234|0.00220**|0.00255***|0.00313***|0.00301***|0.00333***|0.00341**|0.00300|
||(0.00343)|(0.00158)|(0.00101)|(0.000975)|(0.00106)|(0.00101)|(0.00103)|(0.00160)|(0.00285)|
|Trade Openness|-0.00575|-0.00570|-0.00799|-0.00784|-0.00400|0.00156|0.00296|0.00680|0.00674|
|_(% of GDP, logs)_|(0.0276)|(0.0128)|(0.00817)|(0.00785)|(0.00855)|(0.00815)|(0.00831)|(0.0129)|(0.0229)|
|Financial Openness|0.000159|-0.000632|0.000674|0.00217|0.00180|0.00174|0.00161|0.00203|0.00189|
|_(Chinn‐Ito Index)_|(0.00715)|(0.00330)|(0.00211)|(0.00203)|(0.00221)|(0.00211)|(0.00215)|(0.00334)|(0.00594)|
|_External Factors_||||||||||
|Foreign Growth|0.00173|0.00194*|0.00186***|0.00133*|0.000717|0.000508|-4.78e-05|-0.000100|-0.000558|
||(0.00239)|(0.00110)|(0.000707)|(0.000679)|(0.000740)|(0.000706)|(0.000719)|(0.00112)|(0.00198)|
|VIX Index|0.000159|0.00814|0.0115**|0.00877|0.00624|0.00332|0.000470|0.00195|0.00266|
||(0.0190)|(0.00879)|(0.00563)|(0.00541)|(0.00589)|(0.00562)|(0.00573)|(0.00889)|(0.0158)|
|US Economic Policy|-8.72e-05|-0.000102|-0.000136**|-9.62e-05|-0.000104|-9.08e-05|-9.28e-05|-7.02e-05|-0.000109|
|Uncertainty|(0.000215)|(9.95e-05)|(6.37e-05)|(6.12e-05)|(6.67e-05)|(6.36e-05)|(6.48e-05)|(0.000101)|(0.000179)|
|Commodity Terms of|-0.0137|-0.00793|-0.00573|-0.0108|-0.00891|-0.00699|-0.00722|-0.00540|0.000168|
|Trade|(0.0295)|(0.0136)|(0.00871)|(0.00837)|(0.00912)|(0.00870)|(0.00887)|(0.0138)|(0.0245)|
|Oil Price|-0.0115|-0.0108|-0.0138**|-0.0154**|-0.0156**|-0.0173**|-0.0217***|-0.0230**|-0.0279|
||(0.0232)|(0.0107)|(0.00687)|(0.00661)|(0.00719)|(0.00686)|(0.00699)|(0.0109)|(0.0193)|
|Minerals and Metals|-0.00192|0.00731|0.0179*|0.0251***|0.0309***|0.0329***|0.0406***|0.0456***|0.0639**|
|Prices|(0.0335)|(0.0155)|(0.00990)|(0.00952)|(0.0104)|(0.00989)|(0.0101)|(0.0156)|(0.0278)|
|Observations|2,114|2,114|2,114|2,114|2,114|2,114|2,114|2,114|2,114|

_Standard errors in parentheses. *** p<0.01, ** p<0.05, * p<0.1_ 32