Table 6.

PMG estimation results.

Variable	Coefficient	Std. Error	T-Statistic	Prob.
Long Run
LNENG	0.228	0.037	6.164	0.000
LNTRA	0.133	0.023	5.683	0.000
LNCAP	0.327	0.022	14.678	0.000
LNLAB	0.200	0.063	3.196	0.002
LNFDI	0.008	0.003	2.423	0.016
LNHCI	1.807	0.220	8.231	0.000
ECT	-0.167	0.032	-5.233	0.000
Short Run
ΔLNENG	0.065	0.024	2.737	0.006
ΔLNTRA	0.049	0.026	1.874	0.061
ΔLNCAP	0.116	0.021	5.605	0.000
ΔLNLAB	-0.004	0.075	-0.049	0.961
ΔLNFDI	0.000	0.001	0.231	0.817
ΔLNHCI	-0.621	0.179	-3.467	0.001
Constant	-0.188	0.064	-2.932	0.004