Variable | COUNTRY | |||||||
Senegal | Sierra L. | TOGO | Nigeria | Niger | Mali | Mauritania | Liberia | |
P-Value | ||||||||
Infl (level) | 0.0029*** | 0.2391 | 0.0003*** | 0.0111** | 0.0000*** | 0.0003*** | 0.0019*** | 0.0051*** |
Infl (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |
lnRM2 (level) | 0.0003*** | 0.0383** | 0.0000*** | 0.0018*** | 0.0006*** | 0.0043*** | 0.0009*** | 0.0011*** |
lnRM2 (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |
lnRGDP (level) | 0.0003*** | 0.0259** | 0.0000*** | 0.0017*** | 0.0006*** | 0.0040*** | 0.0009*** | 0.0010*** |
lnRGDP (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |
Exch (level) | 0.4522 | 0.9991 | 0.4521 | 0.9828 | 0.4521 | 0.4521 | 0.9395 | 1.0000 |
Exch (1st diff) | 0.0002*** | 0.3820 | 0.0002*** | 0.0050*** | 0.0002*** | 0.0002*** | 0.0042*** | 0.9969 |
LIBOR (level) | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 |
LIBOR (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |
Variable | Ivory Coast | Guinea Bissau | Guinea | Ghana | Gambia | Cape Verde | Burkina Faso | Benin |
Infl (level) | 0.0010*** | 0.4999 | 0.0411 | 0.0000*** | 0.0009*** | 0.0000*** | 0.0002*** | 0.0029*** |
Infl (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |
lnRM2 (level) | 0.0007*** | 0.0055*** | 0.0008*** | 0.6350 | 0.0024*** | 0.0302** | 0.0001*** | 0.0003*** |
lnRM2 (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |
lnRGDP (level) | 0.0007*** | 0.0056*** | 0.0009*** | 0.6003 | 0.0021*** | 0.0305** | 0.0001*** | 0.0003*** |
lnRGDP (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |
Exch (level) | 0.4521 | 0.4521 | 0.9923 | 1.0000 | 0.9772 | 0.1366 | 0.4521 | 0.4522 |
Exch (1st diff) | 0.0002*** | 0.0002*** | 0.0000*** | 0.3515 | 0.0072*** | 0.0001*** | 0.0002*** | 0.0002*** |
LIBOR (level) | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 | 0.1602 |
LIBOR (1st diff) | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** | 0.0000*** |