Estimated short-run coefficients
| ARDL (1, 2, 2, 0, 2, 0) Dependent variable: d(LITX) | |||
|---|---|---|---|
| Independent variables | Coefficients | S.E. | p-values |
| d(LEXD) | 4.7321** | 1.8611 | 0.0189 |
| d(LEXD(−1)) | −3.0380*** | 1.6961 | 0.0877 |
| d(LEXR) | −1.5059* | 0.4691 | 0.0042 |
| d(LEXR(−1)) | −1.0863** | 0.4485 | 0.0246 |
| d(LHC) | 1.1990* | 0.3416 | 0.0021 |
| d(LINV) | −0.3274 | 0.3221 | 0.3211 |
| d(LINV(−1)) | 0.6045** | 0.2778 | 0.0411 |
| D(LOPI) | 0.6001* | 0.0859 | 0.0046 |
| Ect-1 | −0.2726* | 0.0859 | 0.0046 |
| ARDL (1, 2, 2, 0, 2, 0) Dependent variable: d(LITX) | |||
|---|---|---|---|
| Independent variables | Coefficients | S.E. | |
| d(LEXD) | 4.7321** | 1.8611 | 0.0189 |
| d(LEXD(−1)) | −3.0380*** | 1.6961 | 0.0877 |
| d(LEXR) | −1.5059* | 0.4691 | 0.0042 |
| d(LEXR(−1)) | −1.0863** | 0.4485 | 0.0246 |
| d(LHC) | 1.1990* | 0.3416 | 0.0021 |
| d(LINV) | −0.3274 | 0.3221 | 0.3211 |
| d(LINV(−1)) | 0.6045** | 0.2778 | 0.0411 |
| D(LOPI) | 0.6001* | 0.0859 | 0.0046 |
| Ect-1 | −0.2726* | 0.0859 | 0.0046 |
Note(s): *, ** and *** indicate 1, 5 and 10 percent level of significance respectively; and parentheses show t-values
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