DOLS estimation results
| Model | Model (1) | Model (2) | Model (3) | Model (4) | Model (5) |
|---|---|---|---|---|---|
| VAR | Y | Y | Y | Y | Y |
| GS_G | 0.14*** | 0.14*** | 0.09*** | 0.04* | −0.002 |
| (0.02) | (0.01) | (0.03) | (0.03) | (0.00) | |
| ICOR | −0.77*** | −1.11*** | −0.48* | −0.65*** | |
| (0.34) | (0.18) | (0.28) | (0.14) | ||
| TDUM1 (1990) | 1.05*** | 0.94*** | 0.90*** | ||
| (0.45) | (0.42) | (0.20) | |||
| TDUM2 (2008) | −1.64* | −0.72** | 0.07 | ||
| (1.11) | (1.29) | (0.40) | |||
| AGRI_G | −0.07* | 0.43*** | |||
| (0.10) | (0.06) | ||||
| IND_G | 0.33*** | 0.30*** | |||
| (0.10) | (0.05) | ||||
| Adj-R2 | 0.51 | 0.92 | 0.91 | 0.92 | 0.99 |
| J-B | 1.58 | 1.96 | 4.59 | 0.58 | 0.12 |
| Q-Stat (AC) | 0.55 | 0.27 | 0.10 | 0.09 | −0.18 |
| Model | Model (1) | Model (2) | Model (3) | Model (4) | Model (5) |
|---|---|---|---|---|---|
| VAR | Y | Y | Y | Y | Y |
| GS_G | 0.14*** | 0.14*** | 0.09*** | 0.04* | −0.002 |
| (0.02) | (0.01) | (0.03) | (0.03) | (0.00) | |
| ICOR | −0.77*** | −1.11*** | −0.48* | −0.65*** | |
| (0.34) | (0.18) | (0.28) | (0.14) | ||
| TDUM1 (1990) | 1.05*** | 0.94*** | 0.90*** | ||
| (0.45) | (0.42) | (0.20) | |||
| TDUM2 (2008) | −1.64* | −0.72** | 0.07 | ||
| (1.11) | (1.29) | (0.40) | |||
| AGRI_G | −0.07* | 0.43*** | |||
| (0.10) | (0.06) | ||||
| IND_G | 0.33*** | 0.30*** | |||
| (0.10) | (0.05) | ||||
| Adj-R2 | 0.51 | 0.92 | 0.91 | 0.92 | 0.99 |
| J-B | 1.58 | 1.96 | 4.59 | 0.58 | 0.12 |
| Q-Stat (AC) | 0.55 | 0.27 | 0.10 | 0.09 | −0.18 |
Note(s): ***, ** and * show significance at 1, 5 and 10 percent, respectively. Standard errors are in parenthesis. J-B and AC refer to Jarque-Bera and Autocorrelation tests
Source(s): Authors’ own elaboration from software-generated results
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