Panel A: ARDL Error Correction Regression | ||||
Variable | Coefficient | Std. Error | t-Statistic | Prob.* |
LNGDP (−1) | 0.896 | 0.033 | 27.113 | 0.000 |
LNOP | 0.015 | 0.008 | 1.833 | 0.076 |
LNOPV | 0.008 | 0.006 | 1.401 | 0.071 |
LNFDI | 0.013 | 0.008 | 1.716 | 0.096 |
C | 0.941 | 0.322 | 2.923 | 0.006 |
CointEq (−1)* | −0.104 | 0.012 | −8.908 | 0.000 |
Panel B: The Long-run Effects | ||||
Variable | Coefficient | Std. Error | t-Statistic | Prob. |
LNOP | 0.147 | 0.047 | 3.149 | 0.004 |
LNOPV | 0.079 | 0.067 | 1.185 | 0.245 |
LNFDI | 0.125 | 0.084 | 1.484 | 0.147 |
C | 9.029 | 0.514 | 17.562 | 0.000 |