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Results of CS-ARDL short run test.
| Variables | Coefficient | t-statistics | p-values |
|---|---|---|---|
| DV: EG | |||
| CPT | 0.159* | 1.379 | 0.091 |
| URB | 0.084** | 2.587 | 0.017 |
| LPI | 0.191*** | 2.943 | 0.001 |
| LAB | 0.201*** | 3.489 | 0.000 |
| ECM -1 | −0.369*** | −4.946 | 0.000 |
| DV: CE | |||
| PPL | 0.201*** | 5.421 | 0.000 |
| URB | 0.098*** | 3.894 | 0.000 |
| PCI | −0.108*** | −6.059 | 0.000 |
| LPI | −0.163*** | −4.249 | 0.000 |
| ECM -1 | −0.304*** | −7.246 | 0.000 |
10, 5, and 1% of significance level is shown, respectively, by *, ** and ***.
