Table 6.

ARDL Test for Long-Run Estimations

Variable	Coefficient	Std. Error	t-Statistic	p-value
Agri	2.721	0.635	4.290	0.005
Lab	−0.953	0.310	−3.070	0.022
Rem	−1.460	0.530	−2.750	0.033
Govex	−20.782	1.339	−15.520	0.000
Eduex	8.164	2.767	2.950	0.026
ECT	−1.117	0.370	−3.020	0.023

Notes: Govex presents log of government expenditure in (current US $), Edu indicates % of expenditure in GDP.