Table 4. Bounds test for cointegration...

Table 4.

Bounds test for cointegration relationship

Test statistics	Value	Level	Critical values
			I(0)	I(1)
F-statistics	3.775**	10%	1.99	2.94
k	6	5%	2.27	3.28
		1%	2.88	3.99

Test statistics	Value	Level	Critical values
F-statistics	3.775**	10%	1.99	2.94
k	6	5%	2.27	3.28
		1%	2.88	3.99

Notes:

k is the number of the explanatory variables, and ** denotes 5% level of statistical significance

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