The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 5 Long-run estimates through ARDL
From: Estimating the growth effects of services sector: a cointegration analysis for Pakistan
Regressor | Model 1 | Model 2 | Model 3 | Model 4 | Model 5 | Model 6 | Model 7 |
|---|---|---|---|---|---|---|---|
ln gdp is dependent variable | |||||||
lser | 0.6769*** | NA | NA | NA | NA | NA | 0.3062*** |
(0.2395) | NA | NA | NA | NA | NA | (0.1188) | |
lwrt | NA | 0.3885** | NA | NA | NA | NA | NA |
NA | (0.1948) | NA | NA | NA | NA | NA | |
fi | NA | NA | 0.6295*** | NA | NA | NA | NA |
NA | NA | (0.2659) | NA | NA | NA | NA | |
tc | NA | NA | NA | 0.5261*** | NA | NA | NA |
NA | NA | NA | (0.2111) | NA | NA | NA | |
edu | NA | NA | NA | NA | 0.8060*** | NA | NA |
NA | NA | NA | NA | (0.2163) | NA | NA | |
hlt | NA | NA | NA | NA | NA | −0.3579 | NA |
NA | NA | NA | NA | NA | (0.2993) | NA | |
lcap | NA | NA | NA | NA | NA | NA | 0.3615** |
NA | NA | NA | NA | NA | NA | (0.1698) | |
lopen | NA | NA | NA | NA | NA | NA | 0.3706*** |
NA | NA | NA | NA | NA | NA | (0.1562) | |
lcpi | NA | NA | NA | NA | NA | NA | −0.7459* |
NA | NA | NA | NA | NA | NA | (0.4287) | |
ECM t−1 | −0.3702** | −0.1656*** | −0.3626** | −0.3839*** | −0.7519* | −0.2030* | −0.5176*** |
(0.1611) | (0.0686) | (0.1768) | (0.1024) | (0.4187) | (0.1201) | (0.1785) | |
Diagnostics test | |||||||
Functional form | 0.7361 | 0.8789 | 0.7119 | 0.1358 | 0.1965 | 0.5814 | 0.2763 |
Normality | 0.7901 | 0.4840 | 0.4236 | 0.6873 | 0.5111 | 0.3191 | 0.5782 |
Heteroscedasticity | 0.2660 | 0.4599 | 0.7574 | 0.8706 | 0.7383 | 0.2651 | 0.5002 |
Serial correlation | 0.1175 | 0. 7799 | 0.1442 | 0. 0927 | 0. 3799 | 0.8890 | 0.1568 |
CUSUM | Stable | Stable | Stable | Stable | Stable | Stable | Stable |
CUSUMSQ | Stable | Stable | Stable | Stable | Stable | Stable | Stable |