Dependent Variable: LKF

Sample (adjusted): 1964 2010

Included observations: 47 after adjustments

Variable

Coefficient

Std. Error

t-Statistic

Prob.

LKF (−2)

0.227

0.116

1.963

0.060

∆LGDP¹¹

0.935

0.458

2.037

0.051

∆LTD

−0.687

0.103

−6.643

0.000

∆LTD (−1)

−0.361

0.126

−2.861

0.008

∆LTD (−2)

−0.714

0.155

−4.592

0.000

LITD

0.506

0.265

1.906

0.067

LITD (−2)

−1.013

0.305

−3.320

0.002

LINFDF

−0.330

0.185

−1.783

0.085

∆LNER (−2)

2.014

0.487

4.135

0.000

∆∆LFD

0.792

0.393

2.016

0.053

∆∆LFD (−1)

−1.603

0.436

−3.675

0.001

∆∆LFD (−2)

−2.773

1.023

−2.710

0.011

∆LPMP

−0.400

0.242

−1.652

0.110

∆LPMP (−1)

0.655

0.242

2.698

0.011

∆LPMP (−2)

0.397

0.352

1.126

0.269

LKC

−0.247

0.040

−6.045

0.000

LKC (−2)

0.239

0.049

4.793

0.000

∆LED

0.611

0.171

3.559

0.001

DMR

−0.304

0.161

−1.891

0.069

C

14.112

2.057

6.859

0.000

R-squared

0.873

Adjusted R-squared

0.785