Skip to main content

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Journal of Economic Structures Cover Image

Table 3 Results of the ARDL cointegration and diagnostic tests

From: The relationship between financial development and income inequality in Turkey

Estimated modelINE = f(Y,INF,G,FD)INE = f(Y,INF,G,BAD)INE = f(Y,INF,G,SMD)INE = f(Y,INF,G,BND)
Lag order(2,1,2,2,1)(2,0,2,1,2)(1,2,2,1,2)(1,0,2,0,0)
F-statistics6.568**7.706***8.741***7.475**
Structural breaks2001200120012001
Critical values1%5%10% 
Lower bound5.8564.1543.430 
Upper bound7.5785.5404.624 
Diagnostic tests    
\(\chi^{2} NORMAL\)0.463
[0.793]
0.590
[0.744]
0.913
[0.633]
0.438
[0.803]
\(\chi^{2} SERIAL\)1.476
[0.263]
1.541
[0.244]
2.959
[0.155]
1.587
[0.236]
\(\chi^{2} ARCH\)1.777
[0.196]
0.036
[0.851]
0.259
[0.615]
0.298
[0.590]
\(\chi^{2} WHITE\)0.836
[0.636]
1.665
[0.149]
1.113
[0.448]
1.707
[0.173]
\(\chi^{2} RAMSEY\)0.842
[0.389]
0.918
[0.371]
1.536
[0.162]
0.041
[0.967]
CUSUMStableStableStableStable
CUSUMQStableStableStableStable
  1. ** and *** indicates statistical significance at 5 and 1% level, respectively. The numbers in brackets are p values. The critical values are obtained from Narayan (2005)