Table 1. Annual Regression Results, 1994-2002
Variables |
1994 |
1995 |
1996 |
1997 |
1998 |
Intercept |
-0.79532 |
-0.44195 |
-1.4363 |
-0.81279 |
-0.06087 |
MKS |
0.1387 (2.73)* |
0.08251 |
0.16559 |
0.05928 |
0.055 |
CTR |
0.01034 |
-0.00535 |
-0.01299 |
0.0278 |
0.0018 |
CAE |
2.90623 (51.14)* |
2.52061 (47.71)* |
1.9403 (25.97)* |
0.63274 (22.87)* |
0.51813 (13.68)* |
CAR |
-0.87076 |
-0.9329 |
1.59148 |
1.62353 (2.92)* |
1.73487 (2.67)* |
DER |
0.00025281 |
0.00296 |
-0.00185 |
0.00024197 |
-0.00339 |
Cdum1 |
-0.24825 |
0.35273 |
0.20061 |
-0.33745 |
-0.54576 |
Rdum3 |
-0.27265 |
-0.25548 |
0.64428 |
0.12072 |
0.50784 |
Note: t-values are in parentheses. *Significant at the 5% level.
10
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