Hello, I am starting a new thread because I have a confusion on reading the result of my PMG- Panel ARDL estimation. My result is as follows:
As shown, the ECT of my SR is not significant (p-value of 0.355). Hence, I am confuse on how to interpret my result. For the analysis of LR estimation, are they valid when showing significant? Or in general, anyone can help me to interprete the correlation of the LR and the ECT of SR?
I would really appreciate. Thank you.
Code:
Pooled Mean Group Regression (Estimate results saved as pmg) Panel Variable (i): ID Number of obs = 248 Time Variable (t): year Number of groups = 8 Obs per group: min = 31 avg = 31.0 max = 31 Log Likelihood = 906.0644 ------------------------------------------------------------------------------ D.cdi | Coefficient Std. err. z P>|z| [95% conf. interval] -------------+---------------------------------------------------------------- LR | lnfer | -.0278005 .0090196 -3.08 0.002 -.0454786 -.0101223 irrig | .0008385 .0021304 0.39 0.694 -.0033371 .005014 hum | .0130606 .0028067 4.65 0.000 .0075594 .0185617 temp | .0493952 .0132396 3.73 0.000 .023446 .0753445 rain | -.0000333 .0000176 -1.89 0.058 -.0000677 1.17e-06 fcy | .0000603 .0007949 0.08 0.940 -.0014976 .0016182 nfcy | -.0003694 .0003755 -0.98 0.325 -.0011053 .0003665 lnexp | .0355748 .0131102 2.71 0.007 .0098792 .0612703 al | -1.281879 .2662581 -4.81 0.000 -1.803735 -.7600228 -------------+---------------------------------------------------------------- SR | ECT | -.1051966 .1137458 -0.92 0.355 -.3281343 .1177412 | cdi | LD. | -.1074424 .1933066 -0.56 0.578 -.4863164 .2714315 | lnfer | D1. | -.0026205 .0064352 -0.41 0.684 -.0152333 .0099923 | irrig | D1. | .0196937 .0195853 1.01 0.315 -.0186928 .0580803 | hum | D1. | -.0018298 .0008909 -2.05 0.040 -.003576 -.0000836 | temp | D1. | -.0058602 .0029705 -1.97 0.049 -.0116823 -.0000381 | rain | D1. | -2.78e-06 3.48e-06 -0.80 0.425 -9.61e-06 4.04e-06 LD. | -5.95e-06 4.37e-06 -1.36 0.173 -.0000145 2.61e-06 | fcy | D1. | -.0000471 .0004399 -0.11 0.915 -.0009093 .0008152 | nfcy | D1. | .0003521 .0002295 1.53 0.125 -.0000978 .0008019 | lnexp | D1. | .0026243 .0115749 0.23 0.821 -.020062 .0253106 | al | D1. | .2869696 .1349101 2.13 0.033 .0225506 .5513886 | _cons | -.0792861 .0972293 -0.82 0.415 -.2698521 .1112799 ------------------------------------------------------------------------------
I would really appreciate. Thank you.