Variables | Long run coefficient | Short run coefficient | ||||
Coef. | Std. Err. | z-stat. | Coef. | Std. Err. | z-stat. | |
GDP | 1.690* | 0.873 | 1.94 | 1.560* | 0.278 | 5.62 |
RP | 0.345* | 0.143 | 2.42 | 0.318* | 0.143 | 2.21 |
FDI | 0.051 | 0.126 | 0.41 | 0.092** | 0.054 | 1.70 |
REM | 0.135* | 0.053 | 2.55 | 0.072* | 0.027 | 2.58 |
ECT |
|
|
| −0.732* | 0.097 | −7.53 |
Obs. | 330 |
|
| 321 |
|
|
IPS | −11.768* [0.000] |
| −12.459* [0.000] |
| ||
CADF | −4.785* [0.000] |
| −1.898* [0.029] |
| ||
CD test | −1.25 [0.213] |
| −2.18 [0.029] |
|