Table 1.
Short definition of variables.
Table 2.
Description and measurement of variables.
Table 3.
Descriptive statistics of variables without taking logarithm.
Table 4.
Outcomes of unit root test.
Table 5.
VAR lag order selection criteria.
Fig 1.
AR roots graphical verification of the optimal lag length.
Table 6.
ARDL f bound test for cointegration.
Table 7.
Long run estimation coefficient of ARDL model.
Fig 2.
Normality of the model.
Table 8.
Serial correlation LM and heteroskedasticity BPG diagnostic tests.
Fig 3.
CUSUM test.
Fig 4.
CUSUMSQ test.