Table 2: Empirical results (revised model).

Coefficient estimates -Statistics

Intercept12448.1526.634
CPIInfRat−1738.526−0.947
InterReserves75.5291.894**
GovnceInd9402.4898.750*

Adjusted .
*Significant at the 0.5 percent level.
**Significant at the 5 percent level.