CBDC period as a determinant of economic growth two-stage least squares (2SLS) regression
| Dependent variable: GDPR | |
|---|---|
| Independent variable | Coefficient (t-statistic) |
| CBDC1 | 2.596* (3.16) |
| MAN | −0.631* (−3.10) |
| AGR | −0.408 (−1.59) |
| FIN | 0.089** (3.89) |
| EN | 0.076*** (6.29) |
| ICT | 0.402** (4.76) |
| PR | −0.147 (−1.03) |
| R-square | 0.939 |
| Adjusted R-square | 0.82 |
| J-statistic | 0.01 |
| P(J-statistic) | 0.92 |
| Dependent variable: GDPR | |
|---|---|
| Independent variable | Coefficient ( |
| CBDC1 | 2.596* (3.16) |
| MAN | −0.631* (−3.10) |
| AGR | −0.408 (−1.59) |
| FIN | 0.089** (3.89) |
| EN | 0.076*** (6.29) |
| ICT | 0.402** (4.76) |
| PR | −0.147 (−1.03) |
| 0.939 | |
| Adjusted | 0.82 |
| J-statistic | 0.01 |
| P(J-statistic) | 0.92 |
Note(s): CBDC1 = A quarterly binary variable representing the quarters when CBDC was adopted. MAN = real growth in manufacturing services. AGR = real growth in agricultural services. FIN = real growth in financial and insurance services. EN = real growth in energy services. ICT = real growth in information and communication technology. PR = real growth in professional services
Source(s): Author computation
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