| Model |
Equation |
F-Statistic |
| M1 |
F(lnKLCI | MCS, MOPR, lnMRM2, MTS, USFUND) |
5.576**** |
| M2 |
F(MCS | lnKLCI, MOPR, lnMRM2, MTS, USFUND) |
7.101**** |
| M3 |
F(MOPR | lnKLCI, MCS, lnMRM2, MTS, USFUND) |
8.346**** |
| M4 |
F(lnMRM2 | lnKLCI, MCS, MOPR, MTS, USFUND) |
1.611 |
| M5 |
F(MTS | lnKLCI, MCS, MOPR, lnMRM2, USFUND) |
3.408* |
| M6 |
F(lnKLCI | MCS, MOPR, lnMRM2, MTS, LNUSTA) |
7.086**** |
| M7 |
F(MCS | lnKLCI, MOPR, lnMRM2, MTS, LNUSTA) |
7.406**** |
| M8 |
F(MOPR | lnKLCI, MCS, lnMRM2, MTS, LNUSTA) |
5.637**** |
| M9 |
F(lnMRM2 | lnKLCI, MCS, MOPR, MTS, LNUSTA) |
1.403 |
| M10 |
F(MTS | lnKLCI, MCS, MOPR, lnMRM2, LNUSTA) |
10.958**** |
| Bounds test critical values(Case III. Unrestricted intercept and no trend) |
| Significant Level |
I(0) |
I(1) |
| 10% |
2.26 |
3.35 |
| 5% |
2.62 |
3.79 |
| 2.5% |
2.96 |
4.18 |
| 1% |
3.41 |
4.68 |