Page 550 - 2016 - Vol. 40

and world market for the exports purpose this will lead to
stabilize exchange rate, and then GDP will improve.

The real values of the variables are calculated as
nominal values divided by Consumer Price Index (CPI) as
reported in table (2) of the appendices, the data are
collected from various sources mainly, Central Bank of
Sudan Annual Reports and the Central Bureau of Statistics
as reported in table (1). Ordinary Least Squares (OLS)
method is adopted to analyze data covering period (1992-
2012).

4.2 EMPIRICAL RESULTS:

To obtain the objective of the study, Ordinary Least
Squares (OLS) method is applied to the linear regression
model specified in equation (1), using data covering period
(1992-2012) in table (2) of the appendix. The results are
given in equation (2), where the figures inside the brackets
are t-ratios of the estimated coefficients.

!"# !"#$ = 1.53 + 0.12!"# !" + !. 38!"# !"
+ 0.23!"# !"# (2)

(2.97) (1.90) (7.31) (2.98)
R2= 0.91 F = 64.13 - 62 -
R2= 0.90 DW = 1.57