| Variable | Coefficient | Std. Error | t-Statistic | Prob. |
| Log LuSE Index | −0.071678 | 0.015857 | −4.520147 | 0.0000 |
| Interest Rate | −0.004520 | 0.001538 | −2.938743 | 0.0039 |
| REER | 0.007237 | 0.012225 | 0.591942 | 0.5549 |
| Copper Price | 1.144710 | 4.901767 | 2.304467 | 0.0227 |
| Oil Price | −0.000495 | 0.000320 | −1.544591 | 0.1248 |