Table 7 NARDL short-run coefficients... | Emerald Publishing

Table 7

NARDL short-run coefficients

Country	${Δ F D I}^{+}$	${Δ F D I}^{+}$ (−1)	${Δ F D I}^{+}$ (−2)	${Δ F D I}^{-}$	${Δ F D I}^{-}$ (−1)	${Δ F D I}^{-}$ (−2)	$χ^{2}$
Indonesia	0.002	–	–	0.001	–	–	0.116
Indonesia	(0.581)	–	–	(0.857)	–	–	(0.733)
Malaysia	−0.006***	–	–	0.005**	–	–	11.848***
Malaysia	(0.003)	–	–	(0.011)	–	–	(0.001)
Philippines	−0.005	–		0.008	−0.012	−0.006	0.176
Philippines	(0.124)	–		(0.210)	(0.251)	(0.165)	(0.675)
Singapore	0.001	0.001	–	0.001	0.001	0.001	0.183
Singapore	(0.136)	(0.340)	–	(0.785)	(0.260)	(0.121)	(0.668)
Thailand	0.007	−0.005	0.003	−0.001	−0.019***	−0.010***	16.07***
Thailand	(0.168)	(0.471)	(0.371)	(0.789)	(0.003)	(0.008)	(0.00)
S. Korea	0.002	–	–	0.021	–	–	0.796
S. Korea	(0.838)	–	–	(0.138)	–	–	(0.372)
Japan	0.012**	–	–	−0.025	−0.014		5.954**
Japan	(0.034)	–	–	(0.127)	(0.271)		(0.015)

Country	${Δ F D I}^{+}$	${Δ F D I}^{+}$ (−1)	${Δ F D I}^{+}$ (−2)	${Δ F D I}^{-}$	${Δ F D I}^{-}$ (−1)	${Δ F D I}^{-}$ (−2)	$χ^{2}$
Indonesia	0.002	–	–	0.001	–	–	0.116
Indonesia	(0.581)	–	–	(0.857)	–	–	(0.733)
Malaysia	−0.006***	–	–	0.005**	–	–	11.848***
Malaysia	(0.003)	–	–	(0.011)	–	–	(0.001)
Philippines	−0.005	–		0.008	−0.012	−0.006	0.176
Philippines	(0.124)	–		(0.210)	(0.251)	(0.165)	(0.675)
Singapore	0.001	0.001	–	0.001	0.001	0.001	0.183
Singapore	(0.136)	(0.340)	–	(0.785)	(0.260)	(0.121)	(0.668)
Thailand	0.007	−0.005	0.003	−0.001	−0.019***	−0.010***	16.07***
Thailand	(0.168)	(0.471)	(0.371)	(0.789)	(0.003)	(0.008)	(0.00)
S. Korea	0.002	–	–	0.021	–	–	0.796
S. Korea	(0.838)	–	–	(0.138)	–	–	(0.372)
Japan	0.012**	–	–	−0.025	−0.014		5.954**
Japan	(0.034)	–	–	(0.127)	(0.271)		(0.015)

Note(s): $χ^{2}$ is the Wald test statistic. Numbers in parentheses represent p-value. *** and ** denote significance at 1% and 5% levels, respectively

Source(s): The authors