| Variables | Quantile | Coefficient | Std. Error | t-Statistic | Prob. |
| Short-run Estimates | |||||
| D (Oil Production (−1)) | 0.200 | −0.293224 | 0.336634 | −0.871046 | 0.3904 |
|
| 0.350 | −0.111583 | 0.318742 | −0.350073 | 0.7287 |
|
| 0.500 | 0.258496 | 0.230793 | 1.120031 | 0.2713 |
|
| 0.650 | 0.308220 | 0.226848 | 1.358710 | 0.1840 |
|
| 0.800 | 0.284641 | 0.188310 | 1.511556 | 0.1408 |
| D (Technology licensing) | 0.200 | 0.109341 | 0.131419 | 0.832001 | 0.4118 |
|
| 0.350 | 0.046960 | 0.111096 | 0.422695 | 0.6754 |
|
| 0.500 | 0.018542 | 0.071256 | 0.260219 | 0.7964 |
|
| 0.650 | 0.010170 | 0.063960 | 0.158999 | 0.8747 |
|
| 0.800 | −0.048410 | 0.053084 | −0.911950 | 0.3688 |
| D (Income (−1)) | 0.200 | 0.077745 | 0.718326 | 0.108231 | 0.9145 |
|
| 0.350 | 0.366501 | 0.736303 | 0.497758 | 0.6222 |
|
| 0.500 | 0.191699 | 0.527796 | 0.363206 | 0.7189 |
|
| 0.650 | 0.669839 | 0.531342 | 1.260655 | 0.2168 |
|
| 0.800 | 1.028075 | 0.411943 | 2.495673 | 0.0181 |
| D (Trade volume) | 0.200 | −0.027540 | 0.089467 | −0.307829 | 0.7603 |
|
| 0.350 | 0.047370 | 0.103840 | 0.456182 | 0.6514 |
|
| 0.500 | 0.106691 | 0.098580 | 1.082282 | 0.2875 |
|
| 0.650 | −0.007293 | 0.106384 | −0.068551 | 0.9458 |
|
| 0.800 | 0.036955 | 0.090643 | 0.407698 | 0.6863 |
| D (Inflation rate) | 0.200 | −0.001443 | 0.002366 | −0.609847 | 0.5464 |
|
| 0.350 | −0.000695 | 0.002250 | −0.308730 | 0.7596 |
|
| 0.500 | 0.000752 | 0.001409 | 0.533592 | 0.5974 |
|
| 0.650 | 0.000456 | 0.001427 | 0.319717 | 0.7513 |
|
| 0.800 | 0.000786 | 0.001039 | 0.756584 | 0.4550 |
| ECT (−1) | 0.200 | −0.011822 | 0.224453 | −0.052672 | 0.9583 |
|
| 0.350 | −0.130412 | 0.219921 | −0.592997 | 0.5575 |
|
| 0.500 | −0.372088 | 0.167484 | −2.221631 | 0.0337 |
|
| 0.650 | −0.367227 | 0.164042 | −2.238619 | 0.0325 |
|
| 0.800 | −0.380398 | 0.125102 | −3.040709 | 0.0048 |
| Long-run Estimates | |||||
| Technology licensing | 0.200 | −0.143234 | 0.285463 | −0.501758 | 0.6191 |
|
| 0.350 | −0.134880 | 0.218050 | −0.618572 | 0.5403 |
|
| 0.500 | −0.069897 | 0.188178 | −0.371439 | 0.7126 |
|
| 0.650 | −0.083941 | 0.169697 | −0.494652 | 0.6240 |
|
| 0.800 | −0.201020 | 0.136039 | −1.477663 | 0.1487 |
| Income | 0.200 | 0.221768 | 0.559268 | 0.396533 | 0.6942 |
|
| 0.350 | 0.250573 | 0.418975 | 0.598062 | 0.5538 |
|
| 0.500 | 0.413198 | 0.361273 | 1.143725 | 0.2607 |
|
| 0.650 | 0.302328 | 0.337683 | 0.895303 | 0.3769 |
|
| 0.800 | 0.328366 | 0.284468 | 1.154318 | 0.2564 |
| Trade volume | 0.200 | 0.394431 | 0.243752 | 1.618167 | 0.1149 |
|
| 0.350 | 0.310091 | 0.163542 | 1.896096 | 0.0665 |
|
| 0.500 | 0.277049 | 0.144462 | 1.917801 | 0.0636 |
|
| 0.650 | 0.324169 | 0.141698 | 2.287750 | 0.0285 |
|
| 0.800 | 0.295452 | 0.144827 | 2.040027 | 0.0492 |
| Inflation rate | 0.200 | 0.006181 | 0.004097 | 1.508436 | 0.1407 |
|
| 0.350 | 0.001887 | 0.002715 | 0.694884 | 0.4918 |
|
| 0.500 | 0.002218 | 0.002732 | 0.811925 | 0.4225 |
|
| 0.650 | 0.001266 | 0.002576 | 0.491506 | 0.6262 |
|
| 0.800 | 0.001318 | 0.003022 | 0.436286 | 0.6654 |
| Constant | 0.200 | 5.441186 | 2.596915 | 2.095250 | 0.0437 |
|
| 0.350 | 5.700470 | 1.382571 | 4.123093 | 0.0002 |
|
| 0.500 | 4.661040 | 1.189739 | 3.917701 | 0.0004 |
|
| 0.650 | 5.261978 | 1.096269 | 4.799897 | 0.0000 |
|
| 0.800 | 5.861913 | 1.043331 | 5.618459 | 0.0000 |