Dependent Variable: LAFAY_INDEX | ||||
Method: ARDL | ||||
Date: 01/19/18 Time: 20:40 | ||||
Sample (adjusted): 1974 2015 | ||||
Included observations: 42 after adjustments | ||||
Maximum dependent lags: 4 (Automatic selection) | ||||
Model selection method: Akaike info criterion (AIC) | ||||
Dynamic regressors (4 lags, automatic): LOG_DVPT_ASS | ||||
LOG_FDI_INFLOW LOG_GDP_CAP LOG_MILK_CATTLE | ||||
TRADE_OPEN | ||||
Fixed regressors: @DURING (“1994”) C @TREND | ||||
Number of models evalulated: 12500 | ||||
Selected Model: ARDL(2, 4, 4, 4, 3, 3) | ||||
Variable | Coefficient | Std. Error | t-Statistic | Prob.* |
LAFAY_INDEX (−1) | −0.823563 | 0.247150 | −3.332241 | 0.0049 |
LAFAY_INDEX (−2) | −1.405002 | 0.346213 | −4.058204 | 0.0012 |
LOG_DVPT_ASS | 2.501586 | 2.203217 | 1.135424 | 0.2753 |
LOG_DVPT_ASS (−1) | 1.620644 | 2.171204 | 0.746426 | 0.4678 |
LOG_DVPT_ASS (−2) | 0.999750 | 2.142857 | 0.466550 | 0.6480 |
LOG_DVPT_ASS (−3) | −6.852759 | 1.707993 | −4.012169 | 0.0013 |
LOG_DVPT_ASS (−4) | −5.377336 | 1.855227 | −2.898479 | 0.0117 |
LOG_FDI_INFLOW | −0.774124 | 0.498158 | −1.553973 | 0.1425 |
LOG_FDI_INFLOW (−1) | 0.517173 | 0.394201 | 1.311954 | 0.2106 |
LOG_FDI_INFLOW (−2) | 0.214468 | 0.374172 | 0.573180 | 0.5756 |
LOG_FDI_INFLOW (−3) | −0.676900 | 0.442465 | −1.529837 | 0.1483 |
LOG_FDI_INFLOW (−4) | −0.511473 | 0.223753 | −2.285886 | 0.0384 |
LOG_GDP_CAP | 5.093924 | 6.059788 | 0.840611 | 0.4147 |
LOG_GDP_CAP (−1) | 0.174442 | 5.583309 | 0.031244 | 0.9755 |
LOG_GDP_CAP (−2) | 11.46354 | 6.726872 | 1.704142 | 0.1104 |
LOG_GDP_CAP (−3) | 3.291511 | 6.644939 | 0.495341 | 0.6280 |
LOG_GDP_CAP (−4) | −11.55660 | 5.354352 | −2.158356 | 0.0488 |
LOG_MILK_CATTLE | −13.22901 | 3.225018 | −4.101994 | 0.0011 |
LOG_MILK_CATTLE (−1) | −9.635914 | 3.545966 | −2.717430 | 0.0167 |
LOG_MILK_CATTLE (−2) | −10.34610 | 3.510971 | −2.946791 | 0.0106 |
LOG_MILK_CATTLE (−3) | 3.434072 | 2.812778 | 1.220883 | 0.2423 |
TRADE_OPEN | −0.063797 | 0.067714 | −0.942159 | 0.3621 |
TRADE_OPEN (−1) | 0.037348 | 0.050024 | 0.746607 | 0.4677 |
TRADE_OPEN (−2) | 0.189687 | 0.060370 | 3.142065 | 0.0072 |
TRADE_OPEN (−3) | 0.072023 | 0.069839 | 1.031263 | 0.3199 |
@DURING (“1994”) | 0.985069 | 7.456168 | 0.132115 | 0.8968 |