Error correction

D (RGDP)

D (IR)

D (INF)

D (IGDP)

D (GC)

D (BP)

Coint Eq1

−1.75710^*

0.25605

0.23116

7.12387^**

0.34912

0.01662

(−0.354913)

(0.083623)

(0.067510)

(0.422698)

(0.034828)

(0.002561)

D (RGDP (−1))

−0.7093

−1.43040

−0.10654

−2.40632^*

−0.95905

1.31259

(−0.141863)

(−0.462516)

(−0.030807)

(−0.141364)

(−0.094724)

(0.200281)

D (IR (−1))

−2.05611^*

−1.46330

2.84410^*

2.68147^*

−0.66395

−1.22435

(0.294316)

(−0.338668)

(0.588621)

(0.112753)

(−0.046938)

(−0.133717)

D (INF (−1))

1.20710

−1.30391

−2.21098^*

0.72345

1.06724

−0.76166

(0.118692)

(−0.207301)

(−0.314332)

(0.020897)

(0.051829)

(−0.057142)

D (IGDP (−1))

−0.58354

0.59897

0.84374

−1.74323

1.39058

1.02717

(−0.218007)

(0.361808)

(0.455760)

(−0.191313)

(0.256579)

(0.292789)

D (GC (−1))

0.59796

−0.33978

−0.14232

−3.59204^*

0.65016

0.33212

(0.241557)

(−0.221930)

(−0.083124)

(−0.426264)

(0.129716)

(0.102368)

D (BP (−1))

0.37693

0.54419

1.76023

1.89845

1.10711

2.84491^*

(0.084888)

(0.198157)

(0.573163)

(0.125595)

(0.123141)

(0.488839)

C

−0.50495

0.01535

−0.06416

−1.35173

0.36634

−0.15430

(−0.173806)

(0.008541)

(−0.031929)

(−0.136678)

(0.062278)

(−0.040523)