Table 6 ARDL-PMG estimation findings.
Perspective | Independent variables | Dependent variable: GRGROW | |
|---|---|---|---|
Coefficient | Probability | ||
Long-term | QLE | 0.013 | 0.000 |
RPG | 0.254 | 0.065 | |
WGE | −0.151 | 0.000 | |
GEIN | 0.259 | 0.029 | |
GRJO | 0.029 | 0.002 | |
Short-term | D(QLE) | 0.693 | 0.083 |
D (RPG) | 0.022 | 0.014 | |
D (WGE) | −0.573 | 0.058 | |
D (GEIN) | 0.114 | 0.069 | |
D (GRJO) | 0.229 | 0.033 | |
Error correction term | −0.011 | 0.023 | |
Intercept | −0.814 | 0.033 | |