| LICON1 | LICON2 | LICON3 | |
| INPR |
| −0.004 | −0.007 |
|
|
| (4.66)** | (8.02)** |
| INPU | 0.009 |
| 0.01 |
|
| (3.09)** |
| (4.31)** |
| TRAD | 0.004 | 0.005 | 0.005 |
|
| (2.50)* | (4.14)** | (3.60)** |
| REER | 0.003 | 0.002 | 0.002 |
|
| −1.07 | −0.91 | 0.8 |
| COCO | −0.005 | −0.037 | −0.01 |
| 0.03 | 0.33 | 0.08 | |
| R2 (%) | 60% | 42% | 75% |
| N | 105 | 105 | 105 |
| Wald-chi2 | 39.81 (0.0000) | 38.27 (0.000) | 119.93 (0.0) |
|
| i = 5 | t = 25 |
|