Dear Asongu,
In Vinod, H.D. (2008)'s "Hands-on Intermediate Econometrics Using R", in sections 3.4.2 to 3.4.5 I've found some hints for your question. The author uses a bivariate ECM. If you consider no a priori knowledge for the relationship between, say, x and y, so we have a system of two equations, both with ECM's.
In this case, says the author: "If the equilibrium error experienced by economic agent at time t-1 is positive, in inequality (yt-1 > bxt-1) must hold. During the current period t decreasing the left-hand side (yt < yt-1 or deltayt < 0) and increasing the right-hand side (bxt > bxt-1, deltaxt > 0, since b >0) of the inequality reduces the equilibrium error. If the agent learns from past errors in predictable ways, we have seen that this implications on the signs of coefficients in [number of equation] implying nonrejection of two hypothesis, gama1 > 0 and gama2 <0".
Gama1 and 2 are, respectively, the coefficients of the long-run relationship in t-1 (as usual in VECM). The gama 1 is for delta xt's equation and the gama 2 for the delta yt's one).
So, in this case, you should expect a positive coefficient for the coefficient. Is that what you asked? Hope to have helped you.
Best Wishes,
Claudio D. Shikida
http://www.shikida.net and
http://works.bepress.com/claudio_shikida/Esta mensagem pode conter informação confidencial e/ou privilegiada. Se você não for o destinatário ou a pessoa autorizada a receber esta mensagem, não poderá usar, copiar ou divulgar as informações nela contidas ou tomar qualquer ação baseada nessas informações. Se você recebeu esta mensagem por engano, por favor avise imediatamente o remetente, respondendo o presente e-mail e apague-o em seguida.
This message may contain confidential and/or privileged information. If you are not the addressee or authorized to receive this for the addressee, you must not use, copy, disclose or take any action based on this message or any information herein. If you have received this message in error, please advise the sender immediately by reply e-mail and delete this message.