Table 7.

Bound Co integration Test.

Test Statistic	Value	Significance	I (0)	I (1)
F-Statistic	4.698417	10%	2.72	3.77
K	3	5%	3.23	4.35
		2.5%	3.69	4.89
		1%	4.29	5.61

I(0) signifies lower bound co integration level.

I(1) signifies upper bound co integration level while k indicates quantity of parameters (4) less 1.

Source; Researcher's computation, 2023.