ECM Regression | ||||
Case 3: Unrestricted Constant and No Trend | ||||
Model 1 | ||||
Variable | Coefficient | Std. Error | t-Statistic | Prob. |
C | 0.312 | 0.012 | 26.176 | 0.000 |
D(LNPERCAPITA (−1)) | −0.520 | 0.055 | −9.459 | 0.000 |
D(LNTOTPENT) | −0.117 | 0.029 | −3.982 | 0.002 |
D(LNTOTPENT (−1)) | −0.161 | 0.034 | −4.708 | 0.001 |
D(LNINTEREST) | −0.147 | 0.035 | −4.146 | 0.002 |
D(LNINTEREST (−1)) | −0.115 | 0.037 | −3.129 | 0.010 |
D(LNTRADEOP) | −0.121 | 0.029 | −4.218 | 0.001 |
D(LNTRADEOP (−1)) | −0.175 | 0.024 | −7.423 | 0.000 |
D(INF) | 1.095 | 0.068 | 16.099 | 0.000 |
CointEq (−1)* | −0.269 | 0.011 | −23.641 | 0.000 |