Results ARDL (1997–2023)
| Dependent variable: ΔWER . | ||||
|---|---|---|---|---|
| Variable . | Coefficient . | Std.Error . | t-statistic . | Prob . |
| Short Run | ||||
| ΔWER(−1) | −0.624976 | 0.180464 | −3.463167 | 0.0022** |
| Δ SHWNP | −0.048944 | 0.024998 | −1.957919 | 0.0630* |
| ΔGDPGROWTH | 0.031953 | 0.018279 | 1.748049 | 0.0944* |
| Long Run | ||||
| ΔSHWNP | −0.078313 | 0.051835 | −1.510835 | 0.1451 |
| ΔGDPGROWTH | 0.051126 | 0.028724 | 1.779926 | 0.0889* |
| Dependent variable: ΔWER . | ||||
|---|---|---|---|---|
| Variable . | Coefficient . | Std.Error . | t-statistic . | Prob . |
| Short Run | ||||
| ΔWER(−1) | −0.624976 | 0.180464 | −3.463167 | 0.0022** |
| Δ SHWNP | −0.048944 | 0.024998 | −1.957919 | 0.0630* |
| ΔGDPGROWTH | 0.031953 | 0.018279 | 1.748049 | 0.0944* |
| Long Run | ||||
| ΔSHWNP | −0.078313 | 0.051835 | −1.510835 | 0.1451 |
| ΔGDPGROWTH | 0.051126 | 0.028724 | 1.779926 | 0.0889* |
Note(s): (1) coefficients of constant values are not specified; (2) Student's t-statistics in parentheses; (3) coefficients are statistically significant at ***1%, **5%, *10% level of significance