Research Article
A Study of the Effect of Inflation and Exchange Rate on Stock Market Returns in Ghana
Table 4
Estimated long-run coefficients: ARDL (0, 1, 1) selected by Schwarz Bayesian Criterion.
| Regressor | Coefficient | Standard error | -Ratio | value |
| Inflation | 0.0527 | 0.7446 | 2.0519 | 0.005 | Dollar | ā0.0513 | 0.1923 | ā5.4651 | 0.001 | Constant | 0.2340 | 0.0345 | 6.7806 | 0.001 |
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