Table 6 VECM specification for long and short-run causality.

D_LnGDP

_ce1

L1

− .1071365

.0437136

− 2.45

0.014

− .1928137

− .0214594

_ce2

L1

.0879136

.0697728

1.26

0.208

− .0488386

.2246658

LnGDP

LD

.2293239

.1453278

1.58

0.115

− .0555133

.5141611

L2D

.1277691

.1221171

1.05

0.295

− .1115761

.3671143

LnImp

LD

− .1437443

.0655169

− 2.19

0.028

− .2721551

− .0153334

L2D

− .0425921

.0555144

− 0.77

0.443

− .1513983

.0662141

LnExp

LD

− .2696409

.1253988

− 2.15

0.032

− .515418

− .0238638

L2D

.092927

.1143132

0.81

0.416

− .1311228

.3169768

LnExc

LD

.0708821

.0756523

0.94

0.349

− .0773936

.2191579

L2D

.0572609

.0819141

0.70

0.485

− .1032878

.2178096

_cons

.1485877

.0476464

3.12

0.002

.0552025

.2419729