Variable

Coefficient

Std. error

Probability

Speed of adjustment

−0.704

0.148

0.000***

Dlnimports (−1)

0.411

0.144

0.007***

Dopenness

−11.102

8.358

0.193

Dlnopenness (−1)

−9.107

6.657

0.181

Dlnproduction

1.323

3.524

0.710

Dlnproduction (−1)

7.838

2.753

0.008***

Dexchange rate

−0.175

0.078

0.032**

Dexchange rate (−1)

0.173

0.087

0.057*

Constant

4.504

0.348

0.002

R²

0.8232

Adjusted R²

0.7293

Jarque-Berra statistic probability value

0.3335

Durbin Watson statistics

2.0267

Breusch-Godfrey LM test probability value

0.8716

White’s test probability value

0.4334

Cameron and Trivedi’s decomposition of IM-test probability value

0.4263