Table 3 Estimated long-run elasticities...

Table 3

Estimated long-run elasticities using the ARDL (2, 2, 3, 4) approach, dependent variable is lnGDPt

Independent variables	Coefficients	Standard error	T-ratio	p-values
C	6.7911	2.0962	3.2397	0.0102^a
lnGDPt	1.1372	0.2226	5.0264	0.0007^a
lnPOPt	−3.4328	1.5868	−2.1632	0.0588^c
lnSt	−0.0402	0.0129	−3.1204	0.0123^a
lnEt	0.2437	0.1073	2.2714	0.0492^b

Independent variables	Coefficients	Standard error	T-ratio	p-values
C	6.7911	2.0962	3.2397	0.0102^a
lnGDPt	1.1372	0.2226	5.0264	0.0007^a
lnPOPt	−3.4328	1.5868	−2.1632	0.0588^c
lnSt	−0.0402	0.0129	−3.1204	0.0123^a
lnEt	0.2437	0.1073	2.2714	0.0492^b

Note(s): ^a, ^b and ^c indicate significance at 1%, 5% and 10%, respectively

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