Variable

Cointegrating Equation 1

GDP (−1)

1.000000

Currency in Circulation (−1)

1.093607

(0.70052)

[1.56113]

Credit & Debit Card Transactions (−1)

−0.115316

(0.01772)

[−6.50929]

Internet Based Financial Transactions (−1)

0.142420

(0.02823)

[5.04443]

Constant

−1435019.