Table 10 NARDL results for \({T}_{{en}}\sim {T}_{{technology}}\).
Residuals | ||||
|---|---|---|---|---|
Min | 1Q | Median | 3Q | Max |
−1.16582 | −0.04669 | 0.04936 | 0.14851 | 0.39866 |
Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
Const. | 2.36620 | 0.18057 | 13.104 | \(< 2\times {10}^{-16}\) |
\({T}_{e{n}_{1}}\) | −1.08134 | 0.08048 | −13.437 | \(< 2\times {10}^{-16}\) |
\({T}_{{technolog}{y}_{p}}\) | −0.34709 | 0.17753 | −1.955 | 0.0525 |
\({T}_{{technolog}{y}_{p1}}\) | 0.361 | 0.17829 | 2.025 | 0.0447 |
\({T}_{{technolog}{y}_{n}}\) | 0.27640 | 0.18529 | 1.492 | 0.1379 |
\({T}_{{technolog}{y}_{n1}}\) | −0.26359 | 0.18403 | −1.432 | 0.1542 |
Residual Std. Err.: | 0.2301 | R-squared: | 0.5541 (Multiple) | 0.539 (Adjusted) |
F-Statistic: | 36.78 | p-value: | \(< 2\times {10}^{-16}\) | |
Model Diagnostic Test | ||||
JB test | LM test | ARCH test | ||
Statistic | 0.816893 | 0.01349239 | 0.7364487 | |
p-value | \(1.32\times {10}^{-12}\) | 0.92638224 | 0.3908009 | |
Short Run Asymmetry Test | ||||
W-Statistic: | 0.105232 | p-value: | 0.9487443 | |
Cointegration Test | ||||
154 Observations | 2 Regressors | 3 Cases | ||
F-Statistic: | 36.77586 | |||
Long Run Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
\({T}_{{technolog}{y}_{p}}\) | −0.32098 | 0.16529 | −1.9419 | 0.05215 |
\({T}_{{technolog}{y}_{p1}}\) | 0.33384 | 0.16611 | 2.0097 | 0.04446 |
\({T}_{{technolog}{y}_{n}}\) | 0.25560 | 0.17157 | 1.4898 | 0.13628 |
\({T}_{{technolog}{y}_{n1}}\) | −0.24376 | 0.17035 | −1.4309 | 0.15245 |
Long Run Asymmetry Test | ||||
W-Statistic: | 4.494439 | p-value: | 0.1056927 | |
