Table 3 Bounds test for cointegration...

Table 3

Bounds test for cointegration relationship

Test Statistics	Value	Level	Critical values
			I(0)	I(1)
F-Statistics	6.300***	10%	2.20	3.09
k	4	5%	2.56	3.49
		1%	3.29	4.37

Note(s): k is the number of the explanatory variables and *** denotes 1% level of significance

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