International Scholarly Research Notices / 2012 / Article / Tab 6 / Research Article
Wagner's Law in Sri Lanka: An Econometric Analysis Table 6 Error correction model (ECM).
Model Version Intercept (
) Short-run income elasticity (
) Error term (
) 1 Peacock and Wiseman [7 ] 9.451* (0.000) 0.209* (0.000) −0.324* (0.000) 2 Gupta [8 ] 0.051* (0.000) 0.208* (0.000) −0.253* (0.000) 3 Goffman [9 ] 13.451* (0.000) 42.269* (0.000) −0.707* (0.000) 4
Pryol [10 ] 0.139* (0.000) −0.091* (0.000) −0.003* (0.000) 5
R. A. Musgrave and P. B. Musgrave [1 ] 0.435* (0.000) 0.136* (0.000) −0.431* (0.000) 6 Mann [11 ] 0.131* (0.000) −4.251* (0.000) −0.454* (0.000)
*,**, ** are significant at one percent, five percent, and ten percent level. Figures in parentheses represent the
value of the respective coefficient in the estimated regression.