Innovation, total factor productivity and economic growth in Pakistan: a policy perspective

Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 8 Results of error correction model

Variables	Coefficient	T scores	Probability (P values)
\( {\text{D}}({\text{GDP}}_{\text{t}} \)(− 1))	− 0.157	− 1.277	0.211
\( {\text{D}}({\text{LPR}}_{\text{t}} \))	0.018	2.509	0.017**
\( {\text{D}}({\text{LPR}}_{\text{t}} \)(− 1))	0.018	2.094	0.044**
\( {\text{D}}({\text{TFP}}_{\text{t}} \))	0.016	0.554	0.583
\( {\text{D}}({\text{TFP}}_{\text{t}} \)(− 1))	0.016	2.836	0.008*
\( {\text{D}}({\text{LPN}}_{\text{t}} \))	− 0.010	− 2.234	0.033**
\( {\text{D}}({\text{LPN}}_{\text{t}} \)(− 1))	0.010	1.963	0.058***
ECM(− 1)	− 0.154	− 4.432	0.000*
Constant	0.360	4.400	0.000*
Diagnostic tests
R-squared	0.982
Adjusted R-squared	0.97
JB normality test	1.09 (0.77)
Breusch–Godfrey LM test	5.17(0.33)
ARCH test	1.48 (0.82)
Ramsey reset test	T = 0.84 (0.31)
Durbin–Watson stat	1.91