Model

F-Statistic

Signif.

I(0)

I(1)

Decision

ARDL(1, 1, 0, 0, 0)

4.573952

5%

2.32

3.5

Estimate ECMLong Run Model

Model

t-Statistic

Signif.

I(0)

I(1)

Decision

ARDL(1, 1, 0, 0, 0)

−5.524380

5%

−2.86

−4.57

Estimate ECM Long Run Model