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Financial Innovation

Table 6 Estimated Long-Run coefficient for the period 1980–2016

From: Financial innovation and economic growth in Bangladesh

 

Model – 1 AIC criteria

Model – 2 AIC criteria

Model – 3 AIC criteria

C

7.83 (0.02)*

5.69 (0.02)*

0.024 (0.03)*

lnDCB

–

0.09 (0.003)***

 

lnM2/M1

0.65 (0.03)*

–

 

lnGEXP

0.28 (0.001)**

0.49 (0.01)**

0.086 (0.007)**

in GCF

  

0.43 (0.001)**

lnCPI

−0.081 (0.002)**

−0.01 (0.0021)*

−.059 (0.01)**

lnTO

0.086 (0.001)**

0.091 (0.04)*

0.054 (0.004)**

  1. Note: 1. CPI: Consumer Price Index, M2/M1: Broad-to-Narrow Money, GEXP: Government Expenditure, GCF: Gross Capital Formation, DCB: Domestic Credit to Private Sector, TO: Trade Openness and GDPPC: Gross Domestic Product Per Capita. Variables are positively defined (see Table 1)
  2. Note 2: Values reported () in brackets are the associated probability of coefficients
  3. Note 3: (*) & (**) significance at 5% and 1%, respectively
  4. Note 4: Values reported here are the natural logs of the variables. We use natural log forms in our estimation
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