Table 2 Linear ARDL benchmark Panel/Item... | Emerald Publishing

Table 2

Linear ARDL benchmark

Panel/Item	Statistic	Value	p-value/Decision
Automatic ARDL	Selected model	ARDL(3,0,2,0,0,1)
Automatic ARDL	Observations/R²/Adj. R²	116/0.390/0.325
Automatic ARDL	ECT	−0.0779	0.020
Automatic ARDL	Bounds test F	2.032	No rejection at 10%, 5%, 1%
Automatic ARDL	Long-run lnWGP	0.942	0.022
Manual ARDL p(2),q(2)	Observations/R²/Adj. R²	118/0.364/0.255
Manual ARDL p(2),q(2)	ECT	−0.0849	0.022
Manual ARDL p(2),q(2)	LR INF/INT/EXR/GDP/WGP	−2.486/−2.484/0.272/−0.001/0.612	All insignificant
Manual ARDL p(2),q(2)	Short-run joint WGP	F = 12.14	0.000
Manual ARDL diagnostics	BG lag2/RESET/Normality	0.042/0.012/0.008	Diagnostic weaknesses

Panel/Item	Statistic	Value	p-value/Decision
Automatic ARDL	Selected model	ARDL(3,0,2,0,0,1)
Automatic ARDL	Observations/R²/Adj. R²	116/0.390/0.325
Automatic ARDL	ECT	−0.0779	0.020
Automatic ARDL	Bounds test F	2.032	No rejection at 10%, 5%, 1%
Automatic ARDL	Long-run lnWGP	0.942	0.022
Manual ARDL p(2),q(2)	Observations/R²/Adj. R²	118/0.364/0.255
Manual ARDL p(2),q(2)	ECT	−0.0849	0.022
Manual ARDL p(2),q(2)	LR INF/INT/EXR/GDP/WGP	−2.486/−2.484/0.272/−0.001/0.612	All insignificant
Manual ARDL p(2),q(2)	Short-run joint WGP	F = 12.14	0.000
Manual ARDL diagnostics	BG lag2/RESET/Normality	0.042/0.012/0.008	Diagnostic weaknesses

Note(s): The linear ARDL is reported as a benchmark. Diagnostic weaknesses and weak bounds-test evidence motivate the NARDL specification