Figure 2
The line graph shows the CUSUM of Squares test for the NARDL model from 2004 to 2019. The x-axis represents the years from 2004 to 2019, and the y-axis measures the CUSUM of Squares values from -0.2 to 1.4. The CUSUM of Squares line starts at 0.0 in 2004 and rises steadily to about 1.4 in 2019. Two dashed lines represent the 5% significance bounds, within which the CUSUM of Squares line remains throughout the period. All values are approximated.CUSUMSQ of the NARDL model