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Liquidity M2, Inflation, and Sukuk Issuance: Empirical Evidence

Table 8: Cointegration (bounds test) results

[F. Bound’ Test] [Null Hypothesis]: (No) level relationship
[Statistic of Test] [Values] [Significance] I(0) I(1)
[Asymptotic]: n =1000
[F. statistic]  13.600 [10%]  2.630 3.350
[K] 2 Variables [5%]   3.10 3.870
[2.5%]   3.550 4.380
[1%]   4.130 5.0
[Actual Size of Sample] 115 [Finite Sample]: n = 80
[10%]   2.7130 3.4530
[5%]   3.2350 4.0530
[1%]   4.3580 5.3930
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