Impacts of Voice and Accountability upon Innovation in Pakistan: Evidence from ARDL and Maki Cointegration Approaches

Table 10

Maki cointegration results.

Regime	T-statistic	Break years
Level shift (break in intercept and without trend)	−13.645	2014Q4
Level shift with trend (break in intercept and coefficients and without trend)	−13.634	2002Q4
Regime shift (break in intercept and coefficients and with the trend)	−19.700	2003Q2, 2004Q3, 2014Q1, 2015Q2
Regime shift with trend (break in intercept, coefficients and trend)	−15.890	2008Q2, 2010Q1, 2011Q3, 2013Q2, 2015Q1

Note. Significance level at 1%.