The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 5 ARDL estimation results for the effects of public debt on economic growth
Variable | Coefficient | Std. Error | t-statistic | Prob. |
|---|---|---|---|---|
GDP(-1) | − 0.339797 | 0.168359 | − 2.018292 | 0.0665 |
GDP(-2) | − 0.413285 | 0.159785 | − 2.586499 | 0.0238 |
K_FM | 0.280336 | 0.211622 | 1.324701 | 0.2099 |
DEBT_X | 0.175702 | 0.067054 | 2.620317 | 0.0224 |
DEBT_X(-1) | − 0.368388 | 0.064249 | − 5.73378 | 0.0001 |
DEBT_X(-2) | 0.075324 | 0.05066 | 1.486865 | 0.1628 |
DEBT_G | − 0.002437 | 0.010926 | − 0.223078 | 0.8272 |
DEBT_G(-1) | 0.033349 | 0.011422 | 2.919792 | 0.0128 |
DEBT_G(-2) | 0.010767 | 0.010746 | 1.001917 | 0.3362 |
HC | − 0.033936 | 0.262736 | − 0.129163 | 0.8994 |
HC(-1) | − 0.26643 | 0.315824 | − 0.843603 | 0.4154 |
HC(-2) | − 0.419126 | 0.255302 | − 1.641684 | 0.1266 |
INF | − 0.081963 | 0.023634 | − 3.468031 | 0.0046 |
INF(-1) | 0.087399 | 0.021436 | 4.077226 | 0.0015 |
POPN | − 36.92111 | 15.0362 | − 2.455482 | 0.0303 |
POPN(-1) | 52.46615 | 13.93491 | 3.765089 | 0.0027 |
RIR | − 0.071603 | 0.066832 | − 1.071394 | 0.3051 |
RIR(-1) | 0.175266 | 0.050256 | 3.487462 | 0.0045 |
RIR(-2) | − 0.036471 | 0.03601 | − 1.012791 | 0.3311 |
TRADE_O | 0.609176 | 0.160858 | 3.787053 | 0.0026 |
TRADE_O(-1) | − 0.697222 | 0.177752 | − 3.92245 | 0.002 |
TRADE_O(-2) | 0.257874 | 0.137533 | 1.874992 | 0.0853 |
C | − 39.94619 | 21.318 | − 1.873825 | 0.0855 |