| PMG | MG | ||
| Coefficient | Std. Error | Coefficient | Std. Error |
Long Run Results | ||||
PD | −0.1731*** | 0.0447 | −0.4739 | 0.5821 |
COR | −0.1172*** | 0.0423 | −0.7133 | 0 .9541 |
GDP | 0.1559 | 0.1079 | −0.1896 | 0.3283 |
HC | 0.0353 | 0.08754 | −0.3268 | 0.5505 |
Trade | −0.1182*** | 0.0364 | 0.1652 | 0.1480 |
INF | −0.1228*** | 0.0384 | −0.0408 | 0.0408 |
PD × COR | 0.0033*** | 0.0011 | 0.0143 | 0.0175 |
Short Run Results | ||||
ECT | −1.09*** | 0.2240 | −1.3009*** | 0.8778 |
PD | −0.0982 | 0.0880 | −0.0308 | 0.3053 |
COR | −0.0959 | 0.1548 | 0.2205 | 0.364 |
GDP | −0.0664 | 0.0346 | 0.389* | 0.2122 |
HC | −0.0177 | 0.0188 | 1.2495 | 1.4532 |
Trade | −0.0181 | 0.0220 | −0.365736 | 0.3718 |
INF | 0.0440* | 0.0231 | 0.1231* | 0.0710 |
PD × COR | 0.0010 | 0.0023 | −0.0017 | 0.0055 |