Table 5 Results of VECM among Sri Lanka, Germany, Italy, and China
Countries | Sri Lanka | Germany | Italy | China |
|---|---|---|---|---|
Status | – | Exporter | Exporter | Importer |
Variables | D (LN_CSE_P) | D (LN_DAX_P) | D (LN_FTSEMIB_P) | D (LN_SSE_P) |
Error correction term | − 0.0044 | 0.0042 | 0.0039 | − 0.0019 |
Standard error | − 0.0014 | − 0.0016 | − 0.0018 | − 0.0013 |
T-Statistics | [− 3.1877] | [2.5903] | [2.1709] | [− 1.3924] |
Significant | Yes | Yes | Yes | No |
Correction % | 0.44% | 0.42% | 0.39% | – |