Investigating Interaction Dynamics among Nonoil Economic Growth and Its Most Important Determinants: Evidence from Saudi Arabia

Table 4

The ARDL short-run and long-run coefficients on nonoil GDP from 1980 to 2020.

Variables	Coefficient	Standard error	t-statistic
Long-run coefficients on nonoil GDP ARDL AIC (2, 2, 1, 2, 2)
In (HC)	0.1903	0.0297	2.883	0.0002
In (FI)	0.2458	0.0800	6.533	0.0034
In (nonoilTO)	0.17444	0.0388	2.835	0.0002
In (nonoilGCF)	0.318	0.0773	2.369	0.0008
Short-run coefficients on nonoil GDP ARDL
	0.47006	0.034775	13.51732	0.0000
@TREND	0.002742	0.000225	12.16931	0.0000
In (nonoillGDP(1-))	0.72166	0.042910	16.81813	0.0000
In (HC)	−0.04355	0.020648	−2.109191	0.0510
In (HC(-1))	0.028268	0.018864	1.498567	0.1535
In (FI)	−0.036769	0.045184	−0.813760	0.4277
In (nonoillTO)	0.037875	0.006578	5.758128	0.0000
In (nonoillTO(1-))	−0.027295	0.005060	−5.394567	0.0001
In (nonoillGCF)	0.159759	0.015536	10.28304	0.0000
In (nonoillGCF(-1))	−0.084919	0.019440	−4.368155	0.0005
ECT(-1)	0.298952	0.022498	−13.28776	0.0000
Residual diagnostic
R^2Squared	0.987676	X^2Normality	0.986	0.6106
R^2Squared ed	0.976585	X^2Heteroskedasticity	20.94	0.5242
Fstatistic	89.048(0.000)	CUSUM and CUSUM: SQ		Stables
X^2Autocrrelation	No autocorrelation		0.467	0.4941

Note. and 1% and 5% significance.