Dependent Variable

ΔlnPROD

ΔlnIMP

ΔlnEXP

ΔlnFERT

ΔlnLAND

ΔlnMACH

ΔlnLABOR

ΔlnECOGTH

CointEquation (1)

−0.0664***

−1.1071***

−0.5988***

−0.1832

−0.0055

−0.2783***

−0.0007

−0.3757***

(0.0271)

(0.1778)

(0.1960)

(0.1151)

(0.0141)

(0.0986)

(0.0007)

(0.1540)

lnPROD (−1)

−0.0123

0.7719

0.3890

0.3216

0.0868

0.4404

−0.0022

0.5330

(0.2277)

(1.4920)

(1.6444)

(0.9655)

(0.1184)

(0.8271)

(0.0059)

(1.2923)

lnIMP (−1)

−0.0150

−0.5528**

0.2031

−0.0427

−0.0019

0.0870

−0.0001

−0.0213

(0.0190)

(0.1247)

(0.1375)

(0.0807)

(0.0099)

(0.0692)

(0.0005)

(0.1080)

lnEXP (−1)

−0.0052

0.3778

0.2043

−0.0229

−0.0179

0.1901

0.0006

−0.0040

(0.0351)

(0.2302)

(0.2538)

(0.1490)

(0.0183)

(0.1276)

(0.0009)

(0.1994)

lnFERT (−1)

0.0112

−0.1787

−0.0168

−0.4241*

0.0081

−0.0482

0.0004

0.0615

(0.0370)

(0.2426)

(0.2674)

(0.3570)

(0.0193)

(0.1345)

(0.0010)

(0.2102)

lnLAND (−1)

−0.4991

2.1766

−4.0040

−1.4576

−0.2749

1.1864

−0.0161**

−0.9001

(0.3386)

(2.2187)

(2.4453)

(1.4358)

(0.1761)

(1.2299)

(0.0088)

(1.9217)

lnMACH (−1)

0.0368

1.1614***

0.0289

0.2808

−0.0056

−0.2589

−0.0001

0.3254

(0.0560)

(0.3672)

(0.4047)

(0.2376)

(0.0291)

(0.2035)

(0.0015)

(0.3180)