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Table 4 Augmented ARDL bound test cointegration.

From: Tripartite relationship between FDI, trade openness and economic growth amidst global economic crisis in Nigeria: application of combined cointegration and augmented ARDL analysis

AARDL bounds cointegration test results F-statistic t-statistic F*-statistic
Specifications, all k = 5. Model k = 6 N = 37     
1. Frgdp (lnrgdp| lnintrade, lnk, lnl, lnPcrd, lncrisis): ARDL (2,2,2,2,2,1) 4.771b − 3.977c   5.9141b
2. Frgdp (lnrgdp| lnexport, lnimport, lnk, lnl, lnPcrd, lncrisis): ARDL (2,2,2,2,2,1,1) 8.5313a − 6.706c   9.7613b
3. Frgdp (lnrgdp| lninflow, lnk, lnl, lnPcrd, lncrisis): ARDL (2,2,2,2,1,1) 3.890c − 3.657c   4.071c
4. Frgdp (lnrgdp| lntrade, lnk, lnl, lnPcrd, lncrisis*trade): ARDL (2,2,2,0,2,1) 5.795a − 4.043c   6.668c
5. Frgdp (lnrgdp| lnexport, lnk, lnl, lnPcrd, crisis, lncrisis*export): ARDL (2,2,2,2,1,1) 5.744a − 3.842c   6.672a
6. Frgdp (lnrgdp| lnixport, lnk, lnl, lnPcrd, crisis, lncrisis*import): ARDL (2,2,1,2,0,1) 4.066b − 3.234c   3.541c
7. Frgdp (lnrgdp| lninflow, lnk, lnl, lnPcrd, crisis, lncrisis*inflow): ARDL (2,2,2,2.1,1) 4.399b − 3.9634b   3.991b
Remark Cointegtration
The model selection ARDL is based on Akaike info criterion (AIC)
a,b, & c indicate significance at 1, 5 & 10%
Source of critical value: Pesaran etal. (2001) Appendix: Case I &V unrestricted intercept and no trend, Narayan(2005), Appendix: Case III unrestricted intercept and no trend Sam et al.(2019) Appendix: Case III unrestricted intercept and no trend