Table 6 Outcomes of short-run analysis.

ARDL (1, 2, 0, 0, 1, 2, 2, 1) on the basis of AIC Outcome Variable dLNCO₂ 49 observations used for estimation from 1971 to 2020.
Variables	Estimates	Std. Error	t-value	P-value
(Intercept)	0.064	0.010	6.375	\(\:<\)0.001***
d (LNIVG)	− 0.160	0.075	− 2.118	\(\:<\)0.05*
d (LNIVG (-1))	− 0.152	0.058	− 2.613	\(\:<\)0.05*
d (LNEPGS)	0.044	0.072	0.616	0.5418
d (LNEPOS)	0.092	0.016	5.770	\(\:<\)0.001***
d (LNEPOS (-1))	− 0.044	0.015	− 2.842	\(\:<\)0.01**
d (LNFC)	− 0.007	0.030	− 0.234	0.81609
d (LNFC (-1))	0.090	0.027	3.339	\(\:<\)0.01**
d (LNAGV)	− 0.185	0.061	− 3.006	\(\:<\)0.01**
ECM (-1)	− 0.941	0.113	− 8.320	\(\:<\)0.001***
Residual std. error: 0.039 on 37 df Multiple R-squared: 0.801,Adjusted R-squared: 0.753 F-statistic: 16.581 on 9 and 37 DF, p-value: <0.000.

p-value\(\:{<0.001,}^{\text{*}\text{*}*},{0.01<\text{p}<0.05,\:\:}^{\text{*}*},{0.05<\text{p}<0.1,}^{*}\)

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