Liquidity M2, Inflation, and Sukuk Issuance: Empirical Evidence
Table 7: The short-term result of ECM
| ECM-Regression | ||||
| Case (2): Restricted Constant and (No) Trend | ||||
| [Variables] | [Coefficients] | [Error of Std.] | [t. Statistic] | [Probability] |
| D (LM2) | -(18199.6) | 5070.5 | 3.591 | 0.0005 |
| D (INFL) | 298451 | 1.18E+ | 0.00 | 0.00 |
| D (INFL(-1)) | 2.48E+ | 1.18E+ | 0.00 | 0.00 |
| CointEq(-1)* | -(0.894) | 0.0907 | -(9.8589) | 0.00 |
| [R. squared] | {0.9450} | [Mean dependent’ var] | {126849} | |
| [Adjusted R. squared] | 0.9114 | [S. D. dependent’ var] | 9.49E+ | |
| [S. E. of regression] | 6.83E+ | [Akaike info’ criterion] | 43.556 | |
| [Sum squared’ resid] | 5.18E+ | [Schwarz’ criterion] | 43.652 | |
| [Log’ likelihood] | -(2500.5) | [Hannan Quinn' criteria] | 43.595 | |
| [Durbin Watson’ stati] | 1.9310 | |||