Economics Research International / 2016 / Article / Tab 5

Research Article

Public Debt and External Reserve: The Nigerian Experience (1981–2013)

Table 5

FMOLS result.

VariableCoefficientStd. error-statisticProb.

LM20.0015970.0003644.3846880.0001
LNEXCR10.9569924.954130.4390850.6640
LPDEBT1.8042180.4305984.1900320.0003
1544.2291623.1640.9513700.3496
-squared0.746468Mean dependent var15262.94
Adjusted -squared0.719304SD dependent var17239.94
SE of regression9133.848Sum squared resid
Long run variance23394611

Source: author’s computation from E-views (2016).
Dependent variable: Lextrv; method: Fully Modified Least Squares (FMOLS); sample (adjusted): 1982–2013; included observations: 32 after adjustments; cointegrating equation determinants: ; long run covariance estimate (Bartlett kernel; Andrews bandwidth = 15.4589).