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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

From: Uganda’s experience with debt and economic growth: an empirical analysis of the effect of public debt on economic growth—1980–2016

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