The empirical outcomes depict the significance of the income, openness, interest rate
and exchange rate as the determinants of the FDI outflow of Singapore in the long run
as proven by Kyrkilis and Pantelidis (2003). Nevertheless, interesting to discover that
income, interest rate and exchange rate carry similar effect on FDI outflow while only
openness exhibits contradict direction on the endogenous variable for the case of
Singapore