Variable(s)

Short-run

Coefficient

t-statistic value

Rice price (−1)

0.037

5.297

(0.000)***

Domestic rice production (−1)

−0.463

−3.695

(0.015)**

Rice consumption (−1)

0.016

1.273

(0.163)

Exchange rate (−1)

0.337

1.258

(0.341)

World oil price (−1)

0.478

−4.159

(0.003)***

Interest rates (−1)

−0.019

−2.430

(0.219)

Income per capita (−1)

0.058

2.115

(0.713)

Rainfall (−1)

−0.033

−2.304

(0.032)**

World rice price (−1)

0.384

1.373

(0.432)

Rice import (−1)

−0.019

−2.065

(0.189)

Consumer price index (CPI) (−1)

0.006

0.369

(0.535)

R²

0.442

R²-Adjusted

0.421

Variable(s)

Long-run

Coefficient

t-statistic value

Rice price (−1)

0.015

4.193

(0.002)***

Domestic rice production

−0.837

−6.377

(0.001)***

World oil price

0.642

4.764

(0.000)***

Rice consumption

0.039

−2.651

(0.002)***

Exchange rate

0.422

3.103

(0.163)

Interest rates

−0.020

−2.725

(0.005)***

Income per capita

0.024

2.323

(0.001)***

Rainfall

−0.041

−2.168

(0.014)**

World rice price

0.224

2.944

(0.114)

Rice import

−0.097

−2.145

(0.230)

Consumer price index (CPI)

0.002

1.127

(0.519)

R²

0.592

R²-Adjusted

0.576