Table 4.

ARDL bounds test results

Model	F-Statistic	K	Critical values
			%	I(0)	I(1)
$i_t=f({\pi }_t^e)$	4.89	1	10	3.02	3.51
			5	3.62	4.16
			1	4.94	5.58

Source: Author’s compilation

K denotes the number of regressors