Table 3 Estimation of the VEC model...

Table 3

Estimation of the VEC model

Cointegration test (long-term relationship)
Variables	Coefficients	Statistics
lncredit_agri(−1)	1.000
lninternet (−1)	0.075	0.28
lnmobile (−1)	0.826**	2.31
lnmmoney (−1)	2.228*	7.37
lnpib_hbt (−1)	−0.279	−1.43
ihsregu (−1)	−0.863*	−4.49
ihsstab (−1)	−1.000*	−5.42
c (constant)	−12.240
Adjustment equation: Dlncredit_agri (short-term relationship)
CointEq1 (term error)	−0.098**	−2.49
Dlncredit_agri (−1)	−0.623*	−8.26
Dlncredit_agri (−2)	−0.325*	−4.25
Dlninternet (−1)	0.043	0.80
Dlninternet (−2)	0.109**	2.04
Dlnmobile (−1)	−0.583	−1.10
Dlnmobile (−2)	−0.475	−0.91
Dlnmmoney (−1)	0.193**	2.53
Dlnmmoney (−2)	0.070	1.21
Dlnpib_hbt (−1)	−0.197	−0.59
Dlnpib_hbt (−2)	0.393	1.21
Dihsreg (−1)	−0.035	−0.84
Dihsreg (−2)	−0.015	−0.41
Dihsstab (−1)	−0.082**	−1.97
Dihsstab (−2)	−0.066***	−1.81
C	0.015	0.31
R-squared: 0.402500; Adj. R-squared: 0.347851; F-statistic: 7.365136

Cointegration test (long-term relationship)
Variables	Coefficients	Statistics
lncredit_agri(−1)	1.000
lninternet (−1)	0.075	0.28
lnmobile (−1)	0.826**	2.31
lnmmoney (−1)	2.228*	7.37
lnpib_hbt (−1)	−0.279	−1.43
ihsregu (−1)	−0.863*	−4.49
ihsstab (−1)	−1.000*	−5.42
c (constant)	−12.240
Adjustment equation: Dlncredit_agri (short-term relationship)
CointEq1 (term error)	−0.098**	−2.49
Dlncredit_agri (−1)	−0.623*	−8.26
Dlncredit_agri (−2)	−0.325*	−4.25
Dlninternet (−1)	0.043	0.80
Dlninternet (−2)	0.109**	2.04
Dlnmobile (−1)	−0.583	−1.10
Dlnmobile (−2)	−0.475	−0.91
Dlnmmoney (−1)	0.193**	2.53
Dlnmmoney (−2)	0.070	1.21
Dlnpib_hbt (−1)	−0.197	−0.59
Dlnpib_hbt (−2)	0.393	1.21
Dihsreg (−1)	−0.035	−0.84
Dihsreg (−2)	−0.015	−0.41
Dihsstab (−1)	−0.082**	−1.97
Dihsstab (−2)	−0.066***	−1.81
C	0.015	0.31
R-squared: 0.402500; Adj. R-squared: 0.347851; F-statistic: 7.365136

Note(s): *; ** and ***: significance at 1%; 5% and 10%

Source(s): Authors

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