Cointegration test results
| Test | Statistics | k | Min. AIC |
|---|---|---|---|
| Fourier ADL Cointegration | −4.827** | 5.0 | −3.285 |
| Fractional Fourier ADL Cointegration | −4.047** | 4.9 | −3.332 |
| Test | Statistics | k | Min. AIC |
|---|---|---|---|
| Fourier ADL Cointegration | −4.827** | 5.0 | −3.285 |
| Fractional Fourier ADL Cointegration | −4.047** | 4.9 | −3.332 |
Note(s): **p < 0.05. The test statistics for Fourier ADL cointegration and Fractional Fourier ADL cointegration tests were compared with Critical Values tabulated in Banerjee et al. (2017) and Ilkay et al. (2021), respectively
Source(s): Authors’ elaborations in Rats
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