Governance: A Source to Increase Tax Revenue in Pakistan

Table 7

Short-run coefficients for the selected ARDL model.

Dependent variable: ΔlnTAXREVt
Variable	Coefficients	Coefficients	Coefficients	Coefficients
ΔlnCPIt	0.4321 [0.000]	0.2020 [0.003]	0.2711 [0.001]	0.1670 [0.022]
ΔlnINDVAt	0.0098 [0.743]	0.0041 [0.897]	0.0556 [0.011]	0.0395 [0.078]
ΔlnINDVAt-1	−0.0921 [0.003]	−0.0765 [0.014]	—	—
ΔGSTABt	0.1297 [0.001]	—	—	—
ΔLOAt	—	0.3961 [0.013]	—	—
ΔICONFt	—	—	0.1237 [0.004]	—
ΔECONFt	—	—	—	0.1614 [0.008]
ECMt-1	−0.6105 [0.000]	−0.3854 [0.000]	−0.3577 [0.000]	−0.2490 [0.009]
Diagnostics
R^2	0.5588	0.5016	0.3862	0.3685
Adjusted R^2	0.4832	0.4162	0.3216	0.3002
F-statistics	8.8663 [0.000]	7.0458 [0.000]	5.9781 [0.001]	5.39701 [0.002]
Akaike information criterion	86.6056	84.0462	81.9843	79.0734
Schwarz
Bayesian criterion	73.5283	70.9643	72.5813	69.7292
DW-statistic	2.1539	2.2505	2.3606	2.4402

The values within square brackets represent probability values.