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Table 9. Mexico. Co-integration tests and ARDL long run coefficients (annual data)


Dependent variable

Regressors

Cointegration*

Dependent variable

Regressors

Cointegration*

MXWHIM

=

WRWHRP


MXBMIM

=

WRBMRP




0.65

-0.46



1.00

-0.63



2.63

-3.29



2.85

-3.81









MXWHEX

=

WRWHRP


MXBMEX

=

WRBMRP




1.18

-0.86



0.89

-0.57



3.39

-4.33



3.77

-2.90









MXWHPF

=

WRWHRP


MXBMPF

=

WRBMRP




0.35

-1.01



1.35

-0.94



2.24

-3.01



3.57

-4.12









MXMZIM

=

WRMZRP


MXPMIM

=

WRPMRP




0.41

-0.71



0.79

-0.75



1.74

-3.33



4.47

-3.88









MXMZEX

=

WRMZRP


MXPMEX

=

WRPMRP




0.94

-0.33



0.32

-0.55



0.53

-2.01



0.89

-2.87









MXMZPF

=

WRMZRP


MXPMPF

=

WRPMRP




0.72

-0.71



0.77

-0.89



2.01

-2.25



3.01

-2.62









MXSHPF

=

WRSHRP


MXPLIM

=

WRPLRP




1.55

-0.33



0.41

-1.32



2.28

-1.84



2.12

-5.26









MXSYIM

=

WRSYRP


MXPLPF

=

WRPLRP




0.67

-0.69



1.26

-0.53



3.34

-3.60



1.29

-2.11









MXSYPF

=

WRSYRP


MXMPIM

=

WRMPRP




1.07

0.05



0.80

-0.30



2.01

0.10



1.28

-2.12

see Table 1 for variables' names

* figures reported are the ADF coefficients and t values for the level of the residual of the static regression between the two variables reported on the left. This corresponds to the Engle and Granger (1987) test for cointegration


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