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Agricultural and Food Economics

Table 3 Nonlinear ARDL estimation results

From: Oil and food prices in Malaysia: a nonlinear ARDL analysis

 

Oil price specification

Independent variable

Oil price in Ringgit

Oil price in USD

 

Coefficient

p-vale

Coefficient

p-value

Constant

−1.0406

0.0239

−1.1539

0.0100

p(−1)

−0.5592

0.0000

−0.5082

0.0000

y(−1)

0.2690

0.0000

0.2628

0.0000

op +(−1)

0.0458

0.0041

0.0307

0.0355

op −(−1)

0.0293

0.2136

0.0216

0.2971

∆ p(−1)

0.3549

0.0397

0.2385

0.0216

∆ op +

---

---

0.0694

0.0044

∆ op +(−1)

−0.0514

0.0397

---

---

R2

0.6798

 

0.7098

 

J-B

1.4480

0.4848

1.1050

0.5755

LM(1)

0.0022

0.9622

0.1303

0.7181

LM(2)

0.3534

0.8380

0.4439

0.8010

ARCH(1)

0.0040

0.9496

4.1510

0.0416

ARCH(2)

0.5286

0.7677

9.4405

0.0089

  1. Notes: J-B is the Jarque-Bera test for error normally, LM(.) is the LM test for error autocorrelation up to the lag order given in the parenthesis, and ARCH(.) is the ARCH test for autoregressive conditional heteroskedasticity up to the lag order given in the parenthesis.
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