Table 6.
Results of long-run estimations through DSUR
| Variables | Model 1 | Model 2 | Model 3 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Coefficient | t-value | P value | Coefficient | t-value | P value | Coefficient | t-value | P value | |
| LnREM | 0.9068*** | 5.39 | 0.000 | 3.7306*** | 8.56 | 0.000 | 3.8458*** | 3.48 | 0.000 |
| LnFD | 1.4003*** | 6.15 | 0.000 | 3.1813** | 2.28 | 0.023 | 1.5847*** | 5.57 | 0.000 |
| LnGDP | 13.1103*** | 8.44 | 0.000 | 12.599*** | 9.69 | 0.000 | 10.869*** | 7.13 | 0.000 |
| LnGDP2 | − 0.3654*** | − 7.45 | 0.000 | − 0.3540*** | − 8.63 | 0.000 | − 0.3029*** | − 6.38 | 0.000 |
| LnENG | 0.0060*** | 9.91 | 0.000 | 0.0073*** | 9.50 | 0.000 | 0.0069*** | 9.91 | 0.000 |
| LnURP | 5.0617*** | 15.75 | 0.000 | 3.9233*** | 12.42 | 0.000 | 4.7573*** | 15.62 | 0.000 |
| LnTE | − 7.9806*** | − 13.11 | 0.000 | 6.3459*** | 11.30 | 0.000 | 9.2328*** | 14.63 | 0.000 |
| LnREM*LnFD | − 0.7842*** | − 2.82 | 0.000 | ||||||
| LnREM*LnTE | − 0.5962*** | − 3.43 | 0.000 | ||||||
Note: ***, **, and * indicate significance level at 1%, 5%, and 10% respectively.