Basically I am screwed to put things lightly. I have a very important paper to submit in one week and I am bad with maths so need some help.
Can anyone help me with understanding what an autoregressive distributed lag model is and how to do it? I have the necessary data for the regression and "stata" software (if that helps).
I also need to understand how to calculate the short and long run elasticities of the variables in my model.
My model has 4 variables: gross domestic product, foreign direct investment, private sector lending, effective labour force. I am looking for a relationship between economic growth and FDI, and whether there is a minimum level of private lending required to generate growth. I think this is what the short run/long run elasticities are for.
If you can divulge any information or help in any way, please do so. Sorry if this does not make sense (it certainly does not to me!) or if I have put this in the wrong forum.
Thanks in advance!