Table 3 ARDL Bounding Test
From: Cointegration between macroeconomic factors and the exchange rate USD/CNY
Equations | F-Statistics | |
|---|---|---|
FEXCR(EXCR | GDPG, INFR, INTR, TRDO) | 10.5852 | Co-Integration |
FGDPG(GDPG | EXCR, INFR, INTR, TRDO) | 5.7123 | Co- Integration |
FINFR(INFR | GDPG, EXCR, INTR, TRDO) | 6.7119 | Co-Integration |
FINTR (INTR | GDPG, INFR, EXCR, TRDO) | 5.1682 | Co-Integration |
FTRDO(TRDO | GDPG, INFR, INTR, EXCR) | 5.4659 | Co-Integration |