Table 7 Estimated coefficients of short...

Table 7

Estimated coefficients of short run ARDL Error Correction Regression

Regressors	Coefficient	Std. error	t-Statistic	Prob
Dependent variable: DLNGDPC
C	2.48305	0.17895	13.87600	0.0000***
D (POLITY2)	−0.00243	0.00355	−0.68401	0.5011
D (MPV)	−0.00909	0.00284	−3.19656	0.0042***
D (FDI)	0.00195	0.00101	1.92440	0.0673*
D (LNTOPEN)	0.08250	0.03371	2.44766	0.0228**
D (POPG)	0.36126	0.04488	8.05001	0.0000***
D (DM₁₉₉₁)	−0.10079	0.03157	−3.19285	0.0042***
CointEq (−1)	−0.71608	0.05187	−13.80667	0.0000**
R-squared	0.91306	Akaike info criterion		−4.5252
Adjusted R-squared	0.89343	Schwarz criterion		−4.1839
F-statistic	46.51080	Hannan–Quinn criterion		−4.4027
Prob. (F-statistic)	0.0000	Durbin–Watson stat		2.2010

Regressors	Coefficient	Std. error	t-Statistic	Prob
Dependent variable: DLNGDPC
C	2.48305	0.17895	13.87600	0.0000***
D (POLITY2)	−0.00243	0.00355	−0.68401	0.5011
D (MPV)	−0.00909	0.00284	−3.19656	0.0042***
D (FDI)	0.00195	0.00101	1.92440	0.0673*
D (LNTOPEN)	0.08250	0.03371	2.44766	0.0228**
D (POPG)	0.36126	0.04488	8.05001	0.0000***
D (DM₁₉₉₁)	−0.10079	0.03157	−3.19285	0.0042***
CointEq (−1)	−0.71608	0.05187	−13.80667	0.0000**
R-squared	0.91306	Akaike info criterion		−4.5252
Adjusted R-squared	0.89343	Schwarz criterion		−4.1839
F-statistic	46.51080	Hannan–Quinn criterion		−4.4027
Prob. (F-statistic)	0.0000	Durbin–Watson stat		2.2010

Note(s): The asterisks ***, ** and * sign indicates the significance of the coefficients at 1%, 5% and 10% significant level respectively

Source(s): Author's estimation using Eviews 11

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