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Table 4 Results of the Bounds test of Cointegration

From: Does financial depth impact economic growth in North Cyprus?

Estimated Model

F LnGNPp (LnGNPp/LnDEP, LnINF)

Optimal Lag Length (AIC)

(2,2,1)

F-Statistics (Bound Test)b

8.6992a

Critical Values

1 Percent

2.5 Percent

 

10%

Lower Bounds I (0)

4.99

4.37

3.88

3.38

Upper Bounds I (1)

5.85

5.16

4.61

4.02

R2

0.50

Adj. R2

0.49

DW

2.02

F-Statistics

75.40a

  1. Note: arepresents significance level at 1%. The optimal lag length for ARDL model was chosen by AIC. The critical values mentioned in the above Table were obtained from Pesaran et al. (2001)
  2. bThe ARDL model in this study was performed with unrestricted constant and restricted linear Trend (Case IV)