Table 6 Pooled mean group pre-GFC...

Table 6

Pooled mean group pre-GFC

PMG/ARDL model (2,2,2,2,2,2,2)
Variable	Coefficient	Std. error	t-statistic	Prob**
Long run equation
LSUK	0.1650	0.0065	25.265	0.0000**
LGFCF	−2.8325	0.2482	−11.409	0.0000**
LGGFE	0.9335	0.1665	5.6057	0.0000**
LINF	0.2927	0.0242	12.070	0.0000**
LTOPN	0.9389	0.0960	9.7727	0.0000**
LFDI	3.2056	0.3946	8.1220	0.0000**
Short run equation
COINTEQ01	−0.1650	0.0515	−3.2055	0.0021**
D(LSUK)	0.0251	0.0262	0.9550	0.3430
D(LGFCF)	−5.2304	7.0610	−0.7407	0.4615
D(LGGFE)	21.823	7.8041	2.7963	0.0068**
D(LINF)	0.0221	0.3771	0.0586	0.9534
D(LTOPN)	1.0354	5.6673	0.1826	0.8556
D(LFDI)	−6.1431	27.503	−0.2233	0.8239

PMG/ARDL model (2,2,2,2,2,2,2)
Variable	Coefficient	Std. error	t-statistic	Prob**
Long run equation
LSUK	0.1650	0.0065	25.265	0.0000**
LGFCF	−2.8325	0.2482	−11.409	0.0000**
LGGFE	0.9335	0.1665	5.6057	0.0000**
LINF	0.2927	0.0242	12.070	0.0000**
LTOPN	0.9389	0.0960	9.7727	0.0000**
LFDI	3.2056	0.3946	8.1220	0.0000**
Short run equation
COINTEQ01	−0.1650	0.0515	−3.2055	0.0021**
D(LSUK)	0.0251	0.0262	0.9550	0.3430
D(LGFCF)	−5.2304	7.0610	−0.7407	0.4615
D(LGGFE)	21.823	7.8041	2.7963	0.0068**
D(LINF)	0.0221	0.3771	0.0586	0.9534
D(LTOPN)	1.0354	5.6673	0.1826	0.8556
D(LFDI)	−6.1431	27.503	−0.2233	0.8239

Note(s): This table presents PMG-ARDL (2,2,2,2,2,2,2) estimates for the pre-GFC period, reporting long-run coefficients, short-run dynamics through the error correction term and significance at the 5% level**

Source(s): Authors’ own calculations

[ViewLarge]

Sharing Unavailable