Table 2 BDS test results on NARDL...

Table 2

BDS test results on NARDL residuals

Embedding dimension (m)	$ε = 0.5 σ$	$ε = 1 σ$	$ε = 1.5 σ$
2	5.41***	4.87***	3.92***
3	6.02***	5.31**	4.28***
4	6.74***	5.98***	4.91***
5	7.15***	6.42***	5.33***

Note(s): *, **, *** denote significance at 10%, 5%, and 1% levels, respectively

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