Variable*

Coefficient

Std. Error

t-Statistic

Prob.

NERD(−1)

0.0309

0.0082

3.7813

0.0006

LGIRS

−0.1570

0.0581

−2.7030

0.0104

LCPI(−1)

0.5641

0.0998

5.6520

0.0000

C

−2.6820

0.5486

−4.8886

0.0000