Table 2.
Regression model results for total, commercial, and industrial GDP using 2012 Q2 to 2019 Q4 data.
| Coefficient (standard error) | GDPt1 | GDPt2 | GDPt3 | GDPc1 | GDPc2 | GDPc3 | GDPi1 | GDPi2 | GDPi3 |
|---|---|---|---|---|---|---|---|---|---|
| Intercept | −2.545*** (0.448) |
6.331*** (0.717) |
−1.623** (0.541) |
−4.752*** (0.549) |
4.588** (1.305) |
−4.473*** (0.569) |
−5.632*** (0.593) |
5.463** (1.241) |
−5.340*** (0.528) |
| ln EC | 1.064*** (0.027) |
0.928*** (0.058) |
1.255*** (0.036) |
1.182*** (0.060) |
1.260*** (0.038) |
1.199*** (0.043) |
|||
| ln NTL | 0.640*** (0.052) |
0.097* (0.037) |
0.768*** (0.100) |
0.065 (0.044) | 0.704*** (0.103) |
0.061** (0.0253) |
|||
| Quarter 2 | −0.061*** (0.011) |
0.056 (0.031) |
−0.046*** (0.011) |
−0.033* (0.013) |
0.113* (0.050) |
−0.025 (0.014) |
−0.029* (0.013) |
0.053 (0.052) |
−0.021 (0.012) |
| Quarter 3 | −0.105*** (0.011) |
0.144*** (0.033) |
−0.070*** (0.017) |
−0.058*** (0.013) |
0.262*** (0.056) |
−0.034 (0.021) | −0.177*** (0.014) |
0.103 (0.059) | −0.139*** (0.017) |
| Quarter 4 | 0.026* (0.011) |
0.146*** (0.031) |
0.042** (0.011) |
−0.008 (0.013) |
0.129** (0.050) |
0.001 (0.014) |
0.030* (0.013) |
0.128* (0.052) |
0.041** (0.012) |
| N | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| Fes | Qtr | Qtr | Qtr | Qtr | Qtr | Qtr | Qtr | Qtr | Qtr |
| R 2 | 0.985 | 0.869 | 0.988 | 0.981 | 0.714 | 0.982 | 0.981 | 0.708 | 0.986 |
| Adj- R2 | 0.983 | 0.849 | 0.986 | 0.978 | 0.670 | 0.979 | 0.978 | 0.663 | 0.983 |
Significance levels are * p < 0.05, ** p < 0.01, *** p < 0.001. The standard errors were reported inside the parentheses ().