Variable

Coefficient

t-statistic

D(LNDI, 2)

0.606101

3.712062***

D(LGOVEXP, 2)

−0.261564

−2.897323***

D(INFL)

−0.005394

−1.580452

D(DR, 2)

0.007100

2.290102**

CointEq(−1)

−0.610120

−3.803741***

Diagnostics Tests

R² = 0.497207

Adj R² = 0.400516

Durbin-Watson = 1.870691

Jarque-Bera = [2.481210] (0.289209)

Wald Test = [7.118528] (0.0001)

Breusch-Godfrey Serial Correlation LM Test = [0.233687] (0.7934)

Heteroskedasticity Test: Breusch-Pagan-Godfrey = [1.575603] (0.1957)