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Table 3 ARDL bound testing results

From: Nexus between financial innovation and economic growth in South Asia: evidence from ARDL and nonlinear ARDL approaches

Model Country
Bangladesh India Pakistan Sri Lanka
F-stat Remark F-stat Remark F-stat Remark F-stat Remark
F(Y) = (Y/FI, TO, GCF, DCP, 16.95 Present 13.40 Present 14.66 Present 8.91 Present
F(FI) = (FI/Y, TO, GCF, DCP) 2.17 Present 2.85 Present 1.15 Absent 1.18 Present
F(TO) = (TO/Y, FI, GCF, DCP) 3.19 Absent 1.65 Absent 3.15 Absent 2.17 Absent
F(GCF) = (GCF/Y, FI TO, DCP) 2.18 Absent 3.85 Absent 2.12 Absent 1.18 Absent
F(DCP) = (DCP/Y, FI, TO, GCF) 3.25 Absent 1.88 Absent 2.28 Absent 4.58 Absent
Critical value K 1%    
Pesaran et al. (2001) 4 3.74 5.06     
Narayan (2004) 4 3.96 5.49