Estimation results of the FMOLS and CCR models
| CONS | SEA | SE | FDI | LDSP | CPI | BREAK |
|---|---|---|---|---|---|---|
| Panel A: Results of the FMOLS Model – Dependent variable: LnTRC | ||||||
| 6.412 (0.87) | 0.427** (1.97) | −1.265** (−1.72) | −0.210** (−4.66) | 0.270** (1.90) | −0.171** (−2.61) | −0.453** (−2.58) |
| Adj. R2 = 0.558 | ||||||
| Panel B: Results of the CCR Model – Dependent variable: LnTRC | ||||||
| 7.205 (1.00) | 0.386** (1.93) | −1.258** (−1.75) | −0.210** (−4.16) | 0.282** (1.77) | −0.208** (−2.53) | −0.445** (−2.67) |
| Adj. R2 = 0.55 | ||||||
| 6.412 (0.87) | 0.427** (1.97) | −1.265** (−1.72) | −0.210** (−4.66) | 0.270** (1.90) | −0.171** (−2.61) | −0.453** (−2.58) |
| Adj. | ||||||
| 7.205 (1.00) | 0.386** (1.93) | −1.258** (−1.75) | −0.210** (−4.16) | 0.282** (1.77) | −0.208** (−2.53) | −0.445** (−2.67) |
| Adj. | ||||||
Note(s): The lag selection is based on AIC. Asterisk (***, ** and *) denote significance at 1%, 5% and 10% levels of significance. Values in parentheses “(.)” are the t-ratio
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.