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Table 1.

Summary statistics of variables.

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Table 2.

Model diagnostic test results.

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Table 2 Expand

Table 3.

Stationary test results.

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Table 4.

ARDL bound test for cointegration.

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Table 4 Expand

Table 5.

Estimated long-run ARDL coefficients.

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Table 6.

Estimated short-run ECM coefficients of CE.

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Table 7.

Granger causality wald test.

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Fig 1.

Model and structure stability (CUSUM and CUSUMSQ) test.

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Fig 1 Expand