Table 2.
DFE | PMG | MG | ||||
---|---|---|---|---|---|---|
Coef. | Std. Error | Coef. | Std. Error | Coef. | Std. Error | |
Long-run coefficient | ||||||
log BSI | 0.902 | 0.349 | 2.089 | 0.311 | 2.091 | 0.381 |
Short-run coefficient | ||||||
Error correction | −0.609 | 0.022 | −0.366 | 0.033 | −0.376 | 0.034 |
D. log BSI | −0.451 | 0.222 | −0.434 | 0.168 | −0.383 | 0.229 |
Constant | −1.213 | 1.150 | −3.221 | 0.378 | −2.721 | 0.931 |
Hausman Test | 55.80a | 0.00b | ||||
p-value | 0.000 | 0.991 | ||||
No. provinces | 30 | 30 | 30 | |||
No. observations | 1800 | 1800 | 1800 |
(a) Hausman h-test of DFE and PMG estimator; (b) Hausman h-test of PMG and MG estimator.