Table VIII. ECM of ARDL Error-correction... | Emerald Publishing

Table VIII.

ECM of ARDL

Error-correction representation for the selected ARDL approach based on SBC
ecm1(−1)	Coefficient	SE	t-Ratio [probability]	CV (%)	Result
dLESTIC	−0.20197	0.094653	−2.1338 [0.038]*	5	Endogenous
dLINTR	−0.08207	0.085126	−0.96411 [0.340]	5	Exogenous
dLEXR	−0.48765	0.098915	−4.9300 [0.000]*	5	Endogenous
dLCPI	−0.05801	0.03601	−1.6109 [0.114]	5	Exogenous
dLOILP	−0.23198	0.0779	−2.9779 [0.005]*	5	Endogenous
dLGLDP	−0.38218	0.10315	−3.7052 [0.001]*	5	Endogenous

Error-correction representation for the selected ARDL approach based on SBC
ecm1(−1)	Coefficient	SE	t-Ratio [probability]	CV (%)	Result
dLESTIC	−0.20197	0.094653	−2.1338 [0.038]*	5	Endogenous
dLINTR	−0.08207	0.085126	−0.96411 [0.340]	5	Exogenous
dLEXR	−0.48765	0.098915	−4.9300 [0.000]*	5	Endogenous
dLCPI	−0.05801	0.03601	−1.6109 [0.114]	5	Exogenous
dLOILP	−0.23198	0.0779	−2.9779 [0.005]*	5	Endogenous
dLGLDP	−0.38218	0.10315	−3.7052 [0.001]*	5	Endogenous

Note:

*Denotes significance at the 5% level

Source: Own elaboration