Estimates of the MG Panel ARDL model
| Panel | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dep. var: TB | Ghana | Kenya | SA | Senegal | Ivory | Gabon | Botswana | Cameroon | BF | Gambia | |
| LR | REXCH | 0.145*** (0.001) | −0.011 (0.622) | −0.021 (0.415) | −0.0001 (0.855) | −0.0002 (0.935) | 0.0002 (920) | 0.058 (0.732) | 0.0004 (0.224) | −0.001** (0.010) | −0.027*** (0.006) |
| LNFGDP | −0.182 (0.354) | 0.462 (0.656) | 0.297* (0.095) | 0.207 (0.356) | 0.257*** (0.000) | 0.098 (0.841) | −0.360 (0.666) | −0.232** (0.029) | 0.599*** (0.000) | 0.349 (0.116) | |
| LNDGDP | 0.022 (0.898) | −0.770 (0.327) | −0.533** (0.010) | −0.570* (0.091) | −0.473*** (0.000) | 0.030 (0.965) | 0.207 (0.682) | 0.265* (0.095) | −0.462** (0.029) | 0.008 (0.976) | |
| TRADE | 0.0002 (0.952) | −0.033 (0.194) | −0.003 (0.440) | −0.010*** (0.000) | −0.002 (0.113) | −0.007 (0.469) | −0.004 (0.613) | −0.005* (0.066) | 0.015*** (0.001) | 0.006 (0.127) | |
| SR | ΔREXCH | −0.016 (0.913) | 0.016 (0.281) | 0.037 (0.113) | 0.0004 (0.397) | 0.0001 (0.650) | 0.0006 (0.252) | 0.111 (0.208) | −0.001* (0.082) | −0.001 (0.327) | 0.005 (0.563) |
| ΔLNFGDP | −0.553 (0.466) | 3.446* (0.068) | 0.871** (0.056) | −0.537 (0.158) | 0.509 (0.303) | 0.855 (0.391) | 1.830* (0.062) | 0.699 (0.245) | −0.490 (0.485) | −0.229 (0.648) | |
| ΔLNDGDP | −0.069 (0.717) | 0.280 (0.711) | 0.322** (0.043) | 0.181 (0.448) | 0.249 (0.151) | 0.754*** (0.001) | 0.607** (0.047) | −0.374** (0.056) | −0.366 (0.115) | −0.205* (0.090) | |
| ΔTRADE | −0.001 (0.707) | 0.013 (0.235) | −0.003 (0.294) | 0.003 (0.157) | 0.002 (0.338) | 0.009** (0.021) | 0.001 (0.753) | 0.007*** (0.019) | 0.015** (0.021) | −0.004** (0.012) | |
| ECT | −0.65*** (0.000) | −0.35*** (0.005) | −0.54*** (0.000) | −0.55*** (0.000) | −0.81*** (0.000) | −0.43*** (0.003) | −0.34** (0.007) | −0.67*** (0.000) | −0.68*** (0.000) | −0.37*** (0.001) | |
| Panel | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dep. var: TB | Ghana | Kenya | SA | Senegal | Ivory | Gabon | Botswana | Cameroon | BF | Gambia | |
| LR | REXCH | 0.145*** (0.001) | −0.011 (0.622) | −0.021 (0.415) | −0.0001 (0.855) | −0.0002 (0.935) | 0.0002 (920) | 0.058 (0.732) | 0.0004 (0.224) | −0.001 | −0.027*** (0.006) |
| LNFGDP | −0.182 (0.354) | 0.462 (0.656) | 0.297* (0.095) | 0.207 (0.356) | 0.257*** (0.000) | 0.098 (0.841) | −0.360 (0.666) | −0.232** (0.029) | 0.599*** (0.000) | 0.349 (0.116) | |
| LNDGDP | 0.022 (0.898) | −0.770 (0.327) | −0.570* (0.091) | 0.030 (0.965) | 0.207 (0.682) | 0.265* (0.095) | 0.008 (0.976) | ||||
| TRADE | 0.0002 (0.952) | −0.033 (0.194) | −0.003 (0.440) | −0.010*** (0.000) | −0.002 (0.113) | −0.007 (0.469) | −0.004 (0.613) | −0.005* (0.066) | 0.015*** (0.001) | 0.006 (0.127) | |
| SR | ΔREXCH | 0.016 (0.281) | 0.037 (0.113) | 0.0004 (0.397) | 0.0001 (0.650) | 0.0006 (0.252) | 0.111 (0.208) | 0.005 (0.563) | |||
| ΔLNFGDP | −0.553 (0.466) | 3.446* (0.068) | 0.871** (0.056) | −0.537 (0.158) | 0.509 (0.303) | 0.855 (0.391) | 1.830* (0.062) | 0.699 (0.245) | −0.490 (0.485) | −0.229 (0.648) | |
| ΔLNDGDP | −0.069 (0.717) | 0.280 (0.711) | 0.322** (0.043) | 0.181 (0.448) | 0.249 (0.151) | 0.754*** (0.001) | 0.607** (0.047) | −0.366 (0.115) | |||
| ΔTRADE | −0.001 (0.707) | 0.013 (0.235) | −0.003 (0.294) | 0.003 (0.157) | 0.002 (0.338) | 0.009** (0.021) | 0.001 (0.753) | 0.007*** (0.019) | 0.015** (0.021) | −0.004** (0.012) | |
| ECT | −0.65*** (0.000) | −0.35*** (0.005) | −0.54*** (0.000) | −0.55*** (0.000) | −0.81*** (0.000) | −0.43*** (0.003) | −0.34** (0.007) | −0.67*** (0.000) | −0.68*** (0.000) | −0.37*** (0.001) | |
Note(s): *p < 0.05, **p < 0.01, ***p < 0.001. p-values in parentheses
Source(s): Authors’ construct
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