Estimation of Long Run Coefficients in Error Correction Models

Public Debt Stock, Education-Centric Human Capital and Economic Growth in Nepal

“…The ARDL model given in equation (5) integrates the short-run dynamics with the long run equilibrium without losing any information for the long run. From the model estimated in the first step, the long run coefficients are obtained as the coefficients of the one-period lagged explanatory variables (multiplied by a negative sign) divided by the coefficients of the lagged dependent variables (Bardsen, 1989;Akinboade, Ziramba & Kumo, 2008).Thus in the ARDL specification of (5) the coefficients ' θ 1 to θ 4 ' represent the long-run relationship whereas the remaining expressions with summation sign (coefficients…”

Does higher education affect total factor productivity in Nepal? An exploration through the lens of ARDL bounds test

“…The ARDL model specified in equation (7) integrates the short-run dynamics with the long run equilibrium without losing any information for the long run. From the model estimated in the first step, the long run coefficients are obtained as the coefficients of the one-period lagged explanatory variables (multiplied by a negative sign) divided by the coefficients of the lagged dependent variables (Bardsen, 1989;Akinboade, Ziramba & Kumo, 2008). Thus in the ARDL specification (7) the coefficients (θ 1 to θ 4 ) represent the long-run The financial sector variable is incorporated in the TFP equation following existing theoretical and empirical literature.…”

Transport Infrastructure Investment and Sustainable Economic Growth in Côte d’Ivoire: A Cointegration and Causality Analysis

“…(4) yields the long-run model for t y . The long-run coefficients are computed as the coefficients on regressors divided by the coefficient on the dependent and then multiplied by a negative sign (Bardsen, 1989). The bounds testing procedure for long-run relationship between the variables is through the exclusion of the lagged levels variables in Eq.…”