Dependent variable d(EC)

Variable

Coefficient

Std. Error

t-statistic

Prob.

D(FA)

0.078592^**

0.042327

1.856777

0.072

D(GDP)

2.308276^*

0.635611

3.631584

0.0009

U_{t − 1}

−0.722976^*

0.136737

−5.287342

0

R-squared

0.412683

Adjusted R-squared

0.378135

Durbin-Watson stat

2.107018