Model

Order

F-stat.

Normality

Correlation

Heteroskedasticity

EF = f(GDP, URB)

ARDL(1, 5, 0)

12.980*

4.375 [0.112]

1.057 [0.303]

8.015 [0.431]

EF = f(GDP, GDPS, URB)

ARDL(1, 0, 5, 0)

12.956*

4.886 [0.086]

1.144 [0.284]

7.763 [0.558]

5% critical values

10% critical values

I(0)

I(1)

I(0)

I(1)

k = 2

3.100

3.870

2.630

3.350

k = 3

2.450

3.630

2.010

3.100