Table 5 Long-run relationship with lag variable.
Variable | Coefficient | Std. error | t-statistic | Probability |
|---|---|---|---|---|
LnGDPC(–1) | 0.1901 | 0.1336 | 1.4220 | 0.1704 |
LnRMO_N | 0.1536 | 0.0779 | 1.9712 | 0.0627* |
LnRMO_N(–1) | –0.1379 | 0.1141 | –1.2091 | 0.2407 |
LnRMO_N(–2) | 0.2789 | 0.0802 | 3.4767 | 0.0024*** |
LnRMO_P | 0.0452 | 0.0448 | 1.0074 | 0.3258 |
LnTR | 0.1857 | 0.0416 | 4.4666 | 0.0002*** |
LnGCF | 0.0824 | 0.0533 | 1.5454 | 0.1379 |
LnGCF(–1) | –0.0953 | 0.0418 | –2.2784 | 0.0338** |
LnTEN | 0.1348 | 0.0894 | 1.5069 | 0.1475 |
LnTEN(–1) | –0.1215 | 0.0837 | –1.4504 | 0.1625 |
LnLF | 0.2909 | 0.0775 | 3.7550 | 0.0012*** |
C | –1.170634 | 1.248929 | –0.9373 | 0.3598 |
R-squared | 0.934464 | F-statistic | 25.925*** | |
Adjusted R-squared | 0.898419 | Durbin-Watson stat | 2.1851 | |
Long-run asymmetry check outcome | ||||
Test statistic | Value | df | Probability | |
F-statistic | 2.4140 | (3, 20) | 0.0967* | |
Chi-square | 7.2419 | 3 | 0.0646* | |
H0: C(1) = C(2) = C(3) = C(4); HA: C(1) ≠ C(2) ≠ C(3) ≠ C(4) | ||||
