Long-run estimates
| Dependent variable | ||||
|---|---|---|---|---|
| lnSMD | ||||
| Coefficients | t-statistics | Coefficients | t-statistics | |
| lnFDIt-1 | 13.8833*** | 8.5437 | 11.5487*** | 7.2906 |
| lnEXRt-1 | −19.6761*** | −6.7527 | ||
| lnINFt-1 | −3.4606*** | −5.9001 | −1.0394** | −2.4144 |
| lnINTt-1 | −1.7164*** | −5.4120 | 0.5253** | 2.2941 |
| lnBANKt-1 | −34.6875*** | −8.5766 | ||
| Dependent variable | ||||
|---|---|---|---|---|
| lnSMD | ||||
| Coefficients | Coefficients | |||
| 13.8833*** | 8.5437 | 11.5487*** | 7.2906 | |
| −19.6761*** | −6.7527 | |||
| −3.4606*** | −5.9001 | −1.0394** | −2.4144 | |
| −1.7164*** | −5.4120 | 0.5253** | 2.2941 | |
| −34.6875*** | −8.5766 | |||
Note(s): *, ** and *** represent significant at 10, 5 and 1% levels, respectively
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