Table 6. Long-run determinants of GDP...

Table 6.

Long-run determinants of GDP over subperiods (dependent variable: LY)

	1964–1973	1974–1983	1984–2013
Constant	−7.499^b (3.926)	12.41^b (4.131)	6.933^a (8730.0)
LK	−0.056 (0.195)	−0.043 (0.079)	0.126^a (99.02)
LN	1.944^a (24. 58)	−0.009 (0. 000)	0.162^a (55.78)
LH	0.178^b (6.066)	0.282^a (87.40)	0.337^a (491.84)
LFK	0.157^a (96.97)	−0.093^b (4.192)	0.016^b (5.329)
R²	0.997	0.987	0.999
$C R {\hat{Z}}_{t}$	−8.741^a	−5.766^c	−5.050^c
$C R {\hat{Z}}_{α}$	−8.884	−9.769	−26.45^c

	1964–1973	1974–1983	1984–2013
Constant	−7.499^b (3.926)	12.41^b (4.131)	6.933^a (8730.0)
LK	−0.056 (0.195)	−0.043 (0.079)	0.126^a (99.02)
LN	1.944^a (24. 58)	−0.009 (0. 000)	0.162^a (55.78)
LH	0.178^b (6.066)	0.282^a (87.40)	0.337^a (491.84)
LFK	0.157^a (96.97)	−0.093^b (4.192)	0.016^b (5.329)
R²	0.997	0.987	0.999
$C R {\hat{Z}}_{t}$	−8.741^a	−5.766^c	−5.050^c
$C R {\hat{Z}}_{α}$	−8.884	−9.769	−26.45^c

Notes:

^{a, b} and ^c denote significance at the 1%, 5% and 10% levels, respectively. The critical values for the Phillips–Ouliaris cointegration tests are taken from MacKinnon (1996)

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