The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 4 Results of the ARDL Cointegration (F-Bounds) Test
Null Hypothesis: No levels relationship | |||||
|---|---|---|---|---|---|
Model | Optimal lag length | F-statistic | Bound critical values at 1% level | Outcome | |
I (0) | I (1) | ||||
Specification 1 | |||||
ngdp_g = f(ngov_cons_g; bm_g; nexport_g) | (1,0,2,0) | 22.211a | 3.65 | 4.66 | Cointegration exists between the examined variables |
Specification 2 | |||||
ln_rgdp = f(ln_rgov_cons; ln_rbm; ln_rexport) | (4,3,4,3) | 6.169864a | 3.65 | 4.66 | Cointegration exists between the examined variables |