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Table 5 PMG short-run estimates

From: The relationship between tourism and economic growth among BRICS countries: a panel cointegration analysis

Dependent variable: economic growth

Regressor

Coefficient

Stand Error

t-ratio

∆LnTR(−1)

0.091b

0.043

2.116

∆lnFD

0.025

0.018

1.388

∆LnFD(−1)

0.049b

0.023

2.107

ECT(−1)

− 0.434a

0.130

3.334

  1. Source: Authors calculations
  2. aRepresents 1% significant level, respectively, and bRepresents 5%