Table 5

Diagnostics tests of ARDL

Description of test typesTest statisticsValueProb
Breusch–Godfrey Serial Correlation LM TestF- Statistics0.3592250.5553
Heteroskedasticity Test Breusch–Pagan–GodfreyF- Statistics0.7960050.6760
Specification test: Ramsey RESET Test*F- Statistics0.6345680.5326
Normality Test: Jarque–Bera 0.655080.7207

Source(s): Author's calculation using Eviews 11

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