Table 4 ARDL bounds test result for cointegration
Dependent variables | Functions | F-statistics | |||
|---|---|---|---|---|---|
GDP growth model | \(F_{gdpg} (gdpg\left| {gfcf,popg,gcon,topen)} \right.\) | 6.2784*** | |||
GDP per capita growth model | \(F_{gdppcg} (gdppcg\left| {gfcf,popg,gcon,topen)} \right.\) | 6.2872*** | |||
Population growth model | \(F_{popg} (popg\left| {gdpg,gfcf,gcon,topen)} \right.\) | 7.1825*** | |||
\(F_{popg} (popg\left| {gdppcg,gfcf,gcon,topen)} \right.\) | 8.4260*** | ||||
10% | 5% | 1% | ||||
|---|---|---|---|---|---|---|
I(0) | I(1) | I(0) | I(1) | I(0) | I(1) | |
Critical bound values | 2.20 | 3.09 | 2.56 | 3.49 | 3.29 | 4.37 |