Table 8 SGMM Regression Result for Model Two
Dependent variable: lnMCGDP | ||||
|---|---|---|---|---|
Method: system generalized method of moment | ||||
Variable | Coefficient | Std. Error | t-statistic | Prob. |
C | −27.4851 | 6.5200 | −4.22 | 0.000 |
L1.lnMCGDP | 0.7976 | 0.0370 | 21.54 | 0.000 |
LnCPS | −0.0953 | 0.0260 | −3.66 | 0.001 |
LnINTR | −0.0984 | 0.0346 | −2.84 | 0.008 |
LnEXR | −0.0198 | 0.0048 | 4.15 | 0.000 |
LnTOPN | −0.3253 | 0.0656 | −4.96 | 0.000 |
LnINV | −0.0765 | 0.0449 | −1.70 | 0.098 |
LnINF | 0.0137 | 0.0083 | 1.64 | 0.112 |
| Â | F-stat (8,32) = 29.36 | Prob ( F-stat)=0.000 | ||
| Â | Hansen J-Statistic=19.18 | Prob ( J-Statistic)=0.634 | ||
|  | Arellano-Bond AR(1) = −1.13 | Prob ( AB)= 0.258 | ||
| Â | Arellano-Bond AR(2) = 0.41 | Prob ( AB)= 0.682 | ||
| Â | No. Obs = 258 | No of instruments/groups =31/33 | ||