Table 5

Long-run estimation results: (dependent variable GDP)

BangladeshIndiaPakistanSri Lanka
Lag(1,2,1)(1,1,1)(1,1,0)(1,2,2)
Functional format(B_GDP/B_REN, B_UNE)(I_GDP/I_ REN, I_UNE)((P_GDP/P_ REN, P_UNE)(S_GDP/S_ REN, S_UNE)
Coefficientp-valueCoefficientp-valueCoefficientp-valueCoefficientp-value
REN−0.0850.00***0.0120.840.0270.830.2930.00***
UNE−0.3980.401.4750.120.0670.83−0.8190.00***
C11.700.00***−5.0680.582.3520.73−8.3190.08*

Note(s): ***Significant at 1% level; **significant at 5% level; and *significant at 10% level

Source(s): Findings by authors

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