Table 2 Bounds test.
| Â | Lag length | ARDL bounds test |
|---|---|---|
China | ||
EFP = f(WTE+,WTE−,GDP, GDP2, FID, FDI) | 2, 3, 0, 3, 3, 1, 3 | 11.7485*** |
EFP = f(WTEa, WTEb, WTEc, WTEd, GDP, GDP2, FID, FDI) | 3, 2, 2, 2, 2, 2, 2, 2, 2 | 6.3901*** |
United States | ||
EFP = f(WTE+,WTE−,GDP, GDP2, FID, FDI) | 4, 4, 4, 4, 4, 4, 3 | 7.9201*** |
EFP = f(WTEa, WTEb, WTEc, WTEd, GDP, GDP2, FID, FDI) | 2, 0, 3, 3, 2, 3, 3, 3, 3 | 12.1811*** |