Table 6 Results of the Driscoll-Kraay... | Emerald Publishing

Table 6

Results of the Driscoll-Kraay standard errors (DKSE) and Panel Corrected Standard Error (PCSE) methods

Variables	DKSE	p-value	DKSE	p-value	PCSE	p-value	PCSE	p-value
Variables	(Model-1)		(Model-2)		(Model-1)		(Model-2)
AT	−0.059^***	0.000	−0.063^***	0.000	−0.053^***	0.000	−0.048^***	0.000
LGDP	2.484^***	0.000	2.534^***	0.000	3.258^***	0.000	2.898^***	0.000
CPI	0.003^*	0.098	0.021^***	0.001	0.004^*	0.074	0.159^***	0.000
CPI2	–		−0.000^***	0.001	–		−0.000^***	0.000
ER	−0.000^***	0.000	−0.000^***	0.000	−0.000^***	0.000	−0.000^***	0.000
LEXP	−1.607^***	0.009	−2.135^***	0.001	−1.294^***	0.000	−1.182^***	0.000
LIMP	−0.804	0.161	−0.169	0.748	−1.251	0.108	−1.382	0.762
LGFCF	0.162	0.746	−0.043	0.931	−0.459	0.611	−0.144	0.894
CONSTANT	5.411^***	0.001	3.872^**	0.036	3.821^***	0.000	3.967^***	0.000

Variables	DKSE	p-value	DKSE	p-value	PCSE	p-value	PCSE	p-value
Variables	(Model-1)		(Model-2)		(Model-1)		(Model-2)
AT	−0.059^***	0.000	−0.063^***	0.000	−0.053^***	0.000	−0.048^***	0.000
LGDP	2.484^***	0.000	2.534^***	0.000	3.258^***	0.000	2.898^***	0.000
CPI	0.003^*	0.098	0.021^***	0.001	0.004^*	0.074	0.159^***	0.000
CPI2	–		−0.000^***	0.001	–		−0.000^***	0.000
ER	−0.000^***	0.000	−0.000^***	0.000	−0.000^***	0.000	−0.000^***	0.000
LEXP	−1.607^***	0.009	−2.135^***	0.001	−1.294^***	0.000	−1.182^***	0.000
LIMP	−0.804	0.161	−0.169	0.748	−1.251	0.108	−1.382	0.762
LGFCF	0.162	0.746	−0.043	0.931	−0.459	0.611	−0.144	0.894
CONSTANT	5.411^***	0.001	3.872^**	0.036	3.821^***	0.000	3.967^***	0.000

Note(s): ^*, ^** and ^*** Significant at level of 10%, 5% and 1%, respectively

Source(s): Authors’ own compilation