Table 3. ARDL Bounds Test.
| Test statistic | Value | Significance level | I(0) | I(1) |
|---|---|---|---|---|
| F-statistic | 7.117339 | 10% | 1.76 | 2.77 |
| 5% | 1.98 | 3.04 | ||
| 2.50% | 2.18 | 3.28 | ||
| 1% | 2.41 | 3.61 |
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