Coefficient | T-value | P-value | |
Current Account Balance | 0.440 (0.054) | 8.09 | 0.000 |
Money supply (M2) | −0.011 (0.003) | −3.46 | 0.001 |
Real Exchange Rate | 0.021 (0.003) | 6.00 | 0.000 |
Income | 0.102 (0.049) | 2.08 | 0.037 |
Inflation | 0.041 (0.024) | 1.74 | 0.081 |
Investment | −0.693 (0.208) | −3.33 | 0.001 |
Household Consumption Expenditure | 0.026 (0.075) | 0.35 | 0.725 |
GMM Estimation Final GMM Criterion Q(b) = 0.476 Initial weight matrix: Identity GMM weight matrix: Robust Number. of obs = 226 Number. of panels = 8 Ave. No. of T = 28.250 Instruments : lags (1/3) of (trade balance money supply (M2) exchange rate, Income, inflation, Investment, household consumption expenditure require by the model estimation) |