Table 3.
ARDL estimates of quality of life.
| Coefficient | t -Stat | Coefficient | t -Stat | Coefficient | t -Stat | Coefficient | t -Stat | |
|---|---|---|---|---|---|---|---|---|
| Short-run | ||||||||
| Education | 0.019*** | 5.286 | 0.031*** | 5.268 | ||||
| Education (−1) | 0.005 | 1.365 | 0.010 | 1.418 | ||||
| Education (−2) | 0.002 | 0.459 | ||||||
| Hedu | 0.001 | 1.369 | 0.001 | 1.272 | ||||
| Hedu (−1) | 0.001* | 1.821 | 0.003* | 1.778 | ||||
| Hedu (−2) | 0.001* | 1.935 | 0.001** | 2.201 | ||||
| Internet | 0.000 | 0.642 | 0.002*** | 2.853 | ||||
| Internet (−1) | 0.002* | 1.842 | 0.004*** | 3.554 | ||||
| Internet (−2) | 0.002** | 2.062 | 0.002*** | 2.919 | ||||
| ICT | 0.002** | 2.550 | 0.003** | 2.051 | ||||
| ICT (−1) | 0.001 | 0.548 | ||||||
| FD | 0.027 | 1.151 | 0.062* | 1.748 | 0.015 | 0.521 | 0.004 | 0.108 |
| FD (−1) | 0.045 | 1.707 | 0.072 | 1.533 | ||||
| FD (−2) | 0.024 | 0.992 | 0.032 | 1.048 | ||||
| FDI | 0.001 | 1.145 | 0.001 | 0.480 | 0.002 | 1.656 | 0.003** | 2.136 |
| FDI (−1) | 0.002* | 1.801 | 0.005 | 2.882 | ||||
| Long-run | ||||||||
| Education | 0.040*** | 11.84 | 0.062*** | 11.16 | ||||
| HEDU | 0.028* | 1.738 | 0.027* | 1.818 | ||||
| Internet | 0.011*** | 3.285 | 0.013* | 1.810 | ||||
| ICT | 0.021*** | 3.360 | 0.017* | 1.834 | ||||
| FD | 0.216 | 0.222 | 0.365*** | 4.379 | 0.079 | 0.145 | 0.050 | 0.105 |
| FDI | 0.015*** | 4.940 | 0.011*** | 7.992 | 0.013 | 0.655 | 0.034* | 1.896 |
| C | 0.292*** | 9.470 | 0.204*** | 7.748 | 0.638*** | 2.988 | 0.631*** | 3.281 |
| Diagnostics | ||||||||
| F-test | 16.58*** | 15.42*** | 17.12*** | 11.25*** | ||||
| ECM (−1)* | −0.364*** | 11.80 | −0.482*** | 11.97 | −0.378*** | 11.28 | −0.393*** | 12.66 |
| LM | 0.875 | 1.745 | 1.542 | 1.587 | ||||
| BP | 1.254 | 0.874 | 1.302 | 1.925 | ||||
| RESET | 0.357 | 0.011 | 1.425 | 0.225 | ||||
| CUSUM | S | S | S | S | ||||
| CUSUM-sq | S | S | S | S |
***
p < 0.01.
**
p < 0.05.
*
p < 0.1.