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