| Parameters | Model 1 ARDL (10, 9, 0, 10, 5) | Model 2 ARDL (10, 5, 7, 7) | Model 3 ARDL (10, 5, 7, 5, 10) |
| F-statistic | 13.44 | 7.84 | 7.35 |
| Inferior limit I(0) | 3.74 | 4.29 | 3.74 |
| Superior limit I(1) | 5.06 | 5.61 | 5.06 |
| Selection criteria | R2 Adjusted | R2 Adjusted | R2 Adjusted |