Dependent Variable: LDFC

Method: Panel Fully Modified Least Squares (FMOLS)

Date: 04/12/16 Time: 23:01

Sample (adjusted): 2 72

Periods included: 71

Cross-sections included: 2

Total panel (balanced) observations: 142

Panel method: pooled estimation

Cointegrating equation deterministics: C

Coefficient covariance computed using default method

Long-run covariance estimates (Bartlett kernel, Newey-West fixed bandwidth)

Variable

Coefficient

Std. Error

t-Statistic

Prob.

FLTC

0.026781

0.005374

4.983714

0.0000

R-squared

0.227566

Mean dependent var

65.66901

Adjusted R-squared

0.216452

S.D. dependent var

8.697209

S.E. of regression

7.698617

Sum squared resid

8238.349

Long-run variance

100.1477