Variable

Coefficient

Std. Error

t-Statistic

Prob.

LBCS(−1)

0.4052

0.1191

3.4025

0.0018

NERD

0.0108

0.0029

3.7080

0.0008

NERD(−1)

0.0076

0.0033

2.2843

0.0289

LGIRS

−0.0934

0.0375

−2.4908

0.0180

LCPI

2.0411

0.4701

4.3421

0.0001

LCPI(−1)

−1.7056

0.4715

−3.6174

0.0010

C

−1.5952

0.5175

−3.0823

0.0041