Table 5.

Long Run Estimates using ARDL approach.

Dependent variable: lnGDP
Regressors	Coefficient	Std. Error	T- [P-value]
LNSMEO	1.723	0.552	3.118 [0.052]
LNHDI	3.357	0.786	4.270 [0.023]
LNEXPR	1.000	2.230	0.448 [0.684]
LNBCSME	0.745	0.264	2.819 [0.066]
C	-18.028	3.894	-4.629 [0.019]
R-squared	0.992	DW stat	2.265
Adjusted R-squared	0.938
F-statistic	18.451
Prob (F-statistic)	0.017

Note: The maximum lag length was set to4.The ARDL (3,4,3,4) was based on the.

AIC. Source: Authors' computation.