Long-run Estimated Model:

LEXPORT = 1.000 LIMPORT1

1.000 LEXPORT−1

−2.9119 LREER−1

−2.473LFY−1

+27.2946

(093381)

[−3.11828]

(0.69204)

[−3.57372]

(0.67481)

Short-run Estimated Error Correction Model:

DLEXPORT = −0.36ECT1

−0.14 DEXPORT−1

−1.14 DLREER_1

+0.61 DFY_1

−0.05

(0.0972)

[−3.6981]

(0.1204)

[−1.2028]

(1.1463)

[−0.9925]

(3.0429)

[0.1995]

(00663)

[0.7370]