Financial Innovation

Table 10 The short and long run Pooled Mean Group/ARDL results

From: Remittances, financial development and economic growth in sub-Saharan African countries: evidence from a PMG-ARDL approach

Dependent variable: GDP		PMG/ARDL(1,1,1,1,1,1,1)		Prob.
Variables	Coefficients	std-error	t-statistics	Prob.
d (remmit(−1))	0.7914	0.3263	2.4256	0.02**
d (find(−1))	0.0071	0.0094	0.7567	0.45
d (top(−1))	−0.0100	0.0024	−0.3581	0.72
d (pop(−1))	0.0279	0.9953	2.0375	0.04**
d (inf(−1))	0.0100	0.0068	0.3272	0.74
d (fdi(−1))	−0.0118	0.0115	−1.0284	0.31
d (remmit_find(−1))	−0.0357	0.0222	−1.6081	0.11
ecm(−1)	−0.1352	0.1039	−1.3014	0.19
remmit	0.1567	0.0237	6.6246	0.00***
find	0.0725	0.0024	30.3592	0.00***
top	0.0100	0.0008	10.2832	0.31
pop	0.2296	0.0382	6.0138	0.00***
inf	0.0084	0.0021	13.7667	0.15
fdi	−0.0883	0.0016	−5.1179	0.00***
remmit_find	−0.0038	0.0003	−10.8270	0.00***

*** and ** signify 0.01% and 0.05% level of significance

Back to article page