Table 3: ARDL bounce test.

Test Statistics Value K
F-statistics 5.867338 4
critical value bounds
Significance I (0) I (1)
10% 2.45 3.52
5% 2.86 4.01
2.5% 3.25 4.49
1% 3.74 5.06

Source: Computed by the Researchers via E-view software.