Equation

Excluded

Chi2

Prob > chi2

Trade balance

Money supply (M2)

74.568

0.000

Real exchange rate

7.120

0.008

Income

5.393

0.020

Inflation

7.176

0.007

Investment

0.091

0.763

House-hold consumption expenditure

14.596

0.000

All

117.472

0.000