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

Journal of Economic Structures Cover Image

Table 8 Results of error correction model

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

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   
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