Table VII. Estimates of long-run...

Table VII.

Estimates of long-run coefficients

VARIABLE	F-statistics	Lower bound	Upper bound	C.V (%)	Decision rule
LESTIC \| LINTR, LEXR, LCPI, LOILP, LGLDP	2.4056	2.837	4.125	5	No co-integration
LINTR\|LESTIC, LEXR, LCPI, LOILP, LGLDP	5.2337*	2.837	4.125	5	Co-integration
LEXR\|LINTR, LESTIC, LCPI, LOILP, LGLDP	2.5904	2.837	4.125	5	No co-integration
LCPI\|LEXR, LINTR, LESTIC, LOILP, LGLDP	5.0837*	2.837	4.125	5	Co-integration
LOILP\|LCPI, LEXR, LINTR, LESTIC, LGLDP	5.0837*	2.837	4.125	5	Co-integration
LGLDP\| LOILP, LCPI, LEXR, LINTR, LESTIC	2.7598	2.837	4.125	5	No co-integration

VARIABLE	F-statistics	Lower bound	Upper bound	C.V (%)	Decision rule
LESTIC \| LINTR, LEXR, LCPI, LOILP, LGLDP	2.4056	2.837	4.125	5	No co-integration
LINTR\|LESTIC, LEXR, LCPI, LOILP, LGLDP	5.2337*	2.837	4.125	5	Co-integration
LEXR\|LINTR, LESTIC, LCPI, LOILP, LGLDP	2.5904	2.837	4.125	5	No co-integration
LCPI\|LEXR, LINTR, LESTIC, LOILP, LGLDP	5.0837*	2.837	4.125	5	Co-integration
LOILP\|LCPI, LEXR, LINTR, LESTIC, LGLDP	5.0837*	2.837	4.125	5	Co-integration
LGLDP\| LOILP, LCPI, LEXR, LINTR, LESTIC	2.7598	2.837	4.125	5	No co-integration

Notes: The critical values are taken from Pesaran et al. (2001), unrestricted intercept and no trend with five regressors; *denotes rejecting the null at the 5% level, the value of F-statistics for the above variables is more than upper bound 4.125, hence we reject the null hypothesis at 5% level

Source: Own elaboration

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