How Energy Sector Reacted to COVID-19 Pandemic? Empirical Evidence from an Emerging Market Economy

Table 9

ARDL long-term term coefficients.

Variables	Coefficient	Std. error	t-statistic	Prob.
APX
CNE	0	0	0.800675	0.425
D (CNW)	0	0	−0.22699	0.8208
BET-NG
CNE	0	0	−0.99716	0.3207
D (CNW)	0	0	0.314219	0.7539
EEX-B
CNE	0	0	0.629579	0.5303
D (CNW)	0	0	−0.43845	0.6619
EEX-P
CNE	0	0	0.671389	0.5034
D (CNW)	0	0	−1.31788	0.1903
EL
CNE	0	0	−0.82507	0.411
D (CNW)	0	0	0.827637	0.4095
LNGI
CNE	0	0	0.110985	0.9118
D (CNW)	0	0	0.012388	0.9901
SNG
CNE	0	0	−0.73428	0.4642
D (CNW)	0	0	1.504202	0.1352
TEL
CNE	0	0	−1.35105	0.1794
D (CNW)	0	0	0.221226	0.8253
TGN
CNE	0	0	−2.46409	0.0152
D (CNW)	0	0	−2.27302	0.0249

Source: author’s own work. Notes: for the definition of variables, please see Table 2.