Dependent Variable: GDP_GR

Sample (adjusted): 1971 2018

Model selection method: Akaike info criterion

Number of models evaluated: 2500 Selected Model: ARDL(1, 0, 0, 4, 0)

Variable

Coefficient

Std. Error

t-Statistic

Prob.

GDP_GR(-1)

0.351745***

0.123164

2.855897

0.0069

D(INC_DIV_TOTAL)

−4.742598***

1.710415

−2.772776

0.0086

D(LVT_DIV_TOTAL)

−0.121240

0.164615

−0.736510

0.4659

GOV_GR

0.261008**

0.097249

2.683908

0.0107

GOV_GR(-1)

−0.077562

0.095713

−0.810360

0.4228

GOV_GR(-2)

0.081657

0.096937

0.842368

0.4049

GOV_GR(-3)

−0.028300

0.095203

−0.297256

0.7679

GOV_GR(-4)

0.218668**

0.083147

2.629906

0.0123

D(C_GR)

0.424335***

0.082776

5.126289

0.0000

Constant

0.007162*

0.004047

1.769503

0.0848

R-squared (adj.)

0.885600

S.E. of regression

0.014474

F-statistic

41.42654

Prob(F-statistic)

0.000000

AIC

−5.449863