Table 10 Bank deposit as a percentage of GDP (BDP) and Remittances (REM)

ECM(−1)

−0.0003**

0.0063***

[−0.1970]

[5.1773]

D(BDP(−1))

0.0220*

0.0071

[0.6455]

[0.2946]

D(BDP(−2))

−0.0271

0.0073

[−0.7929]

[0.3013]

D(BDP(−3))

−0.0284

−0.0160

[−0.8563]

[−0.6820]

D(BDP(−4))

−0.0698*

0.0082*

[−2.1185]

[0.3517]

D(REM(−1))

0.0035**

0.0268

[0.0618]

[0.6541]

D(REM(−2))

−0.0163

−0.0004

[−0.2833]

[−0.0092]

D(REM(−3))

0.0876*

−0.0248

[1.5085]

[−0.6031]

D(REM(−4))

0.0280

−0.0732*

[0.4903]

[−1.8035]

DLOGGDP

2.9074**

−7.1305**

[2.3553]

[−8.1326]

DPCGDP

0.0052**

0.0007

[14.9815]

[0.2930]

INF

−0.1189**

0.0113**

[−7.0888]

[0.9541]

FDI

0.0728

0.1308***

[1.9207]

[4.8545]

EXP

−0.0102

−0.0101

[−0.8287]

[−1.1547]

C

0.9604***

0.0174

[2.0957]

[0.0535]

R-squared

0.3708

0.1995

Adj. R-squared

0.3550

0.1794

F-statistic

23.4953

9.9341

Akaike AIC

5.9610

5.2768