ARDL bounds testing results for cointegration
| Dependent variable | Function | F- test statistic |
|---|---|---|
| Model 1 | F(lnGDP|lnPOP,lnS,lnEC) | 4.7582c |
| Model 2 | F(lnPOP|lnGDP,lnEC,lnS) | 86.4432a |
| Model 3 | F(lnEC|lnGDP,lnPOP,lnS) | 4.9653c |
| Model 4 | F(lnS|lnGDP,lnPOP,lnEC) | 5.9524b |
| Asymptotic critical values | ||
| 1% | 5% | 10% |
| I (0) I (1) | I (0) I (1) | I (0) I (1) |
| 5.333 7.063 | 3.710 5.018b | 3.008 4.150c |
| Dependent variable | Function | |
|---|---|---|
| Model 1 | F(lnGDP|lnPOP,lnS,lnEC) | 4.7582c |
| Model 2 | F(lnPOP|lnGDP,lnEC,lnS) | 86.4432a |
| Model 3 | F(lnEC|lnGDP,lnPOP,lnS) | 4.9653c |
| Model 4 | F(lnS|lnGDP,lnPOP,lnEC) | 5.9524b |
| Asymptotic critical values | ||
| 1% | 5% | 10% |
| I (0) I (1) | I (0) I (1) | I (0) I (1) |
| 5.333 7.063 | 3.710 5.018b | 3.008 4.150c |
Note(s): a, b and c denote significance levels at 1%, 5% and 10%, respectively. Source of critical values: Narayan (2005, p. 1900)
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