Variable

Regression coefficient

T test value

p value

Δlntii

0.644

10.312

0.000*

Δlnfai

0.011

0.893

0.372

Δlnfdi

0.002

0.625

0.533

Δlniet

0.069

5.377

0.000*

Δlnfbe

−0.037

−1.766

0.078***

Δlnrd

0.015

3.964

0.000*

Δlnocs

0.013

1.686

0.093***

Δlnscrt

0.279

5.398

0.000*

ECM

−0.232

−4.896

0.000*