Wagner's Law in Sri Lanka: An Econometric Analysis

Table 4

Cointegration regression.

Model	Version	Intercept; (𝑎0)	Long-run income elasticity; (𝑏0)
1	Peacock and Wiseman [7]	−1.833 (0.932)	0.904** (0.000)
2	Gupta [8]	6.411 (0.955)	1.023** (0.000)
3	Goffman [9]	−17.177 (0.459)	7.523** (0.000)
4	Pryol [10]	7.243 (0.363)	0.861** (0.000)
5	R. A. Musgrave and P. B. Musgrave [1]	28.833* (0.036)	−0.061** (0.000)
6	Mann [11]	28.805* (0.039)	−2.941** (0.000)

*, **, ** are significant at one percent, five percent, and ten percent level.
Figures in parentheses represent the 𝑃 value of the respective coefficient in the estimated regression.