Variable

Coefficient

Standard Error

Test Statistic

P-value

Cointegration Equation (1)

−0.208796

0.151393

−1.379162

0.1796

GDP (−1)

−0.528395

0.160204

−3.298271

0.0028

GDP (−2)

−0.294831

0.172284

−1.711306

0.0989

GDP (−3)

−0.635087

0.131018

−4.847336

0.0001

Currency in Circulation (−1)

−2.687745

0.675154

−3.980935

0.0005

Currency in Circulation (−2)

0.568852

0.841573

0.675939

0.5050

Currency in Circulation (−3)

3.444795

0.821544

4.193072

0.0003

Credit and Debit Card Transactions (−1)

0.001114

0.023092

0.048254

0.9619

Credit and Debit Card Transactions (−2)

0.007468

0.028283

0.264033

0.7938

Credit and Debit Card Transactions (−3)

−0.038991

0.029356

−1.328225

0.1956

IBFT (−1)

0.110259

0.054399

2.026866

0.0530

IBFT (−2)

0.013843

0.065075

0.212717

0.8332

IBFT (−3)

−0.085243

0.056254

−1.515302

0.1418

Constant

25397.63

63363.34

0.400825

0.6918

R-squared

0.973892

Mean dependent variability

23444.96

Adjusted R-squared

0.960839

S.D. dependent variability

239729.7

S.E. of regression

47440.65

Akaike info criterion

24.64156

Sum squared residuals

5.85E+10

Schwarz criterion

25.23267

Log likelihood

−478.8313

Hannan-Quinn criterion

24.85529

F-statistic

74.60612

Durbin-Watson statistic

1.760167

Probility (F-statistic)

0.000000