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Table 5 Results of cointegration.

From: Oil price, energy consumption and carbon dioxide (CO2) emissions: insight into sustainability challenges in Venezuela

Specifications Structural break date(s) Optimal lag F-statistic
1
FEngy[lnEngy|lnOil, lnCO2, lnRgdpc, lnGCE, lnTrd, TBrk] 1987 ARDL (2, 0, 0, 0, 0, 2) 7.180***
2
 FEngy[lnEngy|lnOil, lnCO2, lnRgdpc, lnGCE, lnTrd, TBrk] 1978, 2003 ARDL (2, 0, 0, 0, 2) 7.273***
3
 \(F_{{{\text{CO}}_{2} }}\)[lnCO2|lnOil, lnEngy, lnRgdpc, lnRgdpc2, lnGCE, lnTrd, TBrk] 2004 ARDL (1, 1, 0, 1, 1, 0, 0) 4.393**
4
 \(F_{{{\text{CO}}_{2} }}\)[lnCO2|lnOil, lnEngy, lnRgdpc, lnRgdpc2, lnGCE, lnTrd, TBrk] 1977, 2004 ARDL (1, 1, 0, 0, 0, 1, 0) 5.137***
5
 FRgdpc[lnRgdpc|lnOil, lnEngy, lnCO2, lnGCE, lnTrd, TBrk] 2004 ARDL (1, 0, 0, 1, 0, 0) 7.134***
6
 FRgdpc[lnRgdpc|lnOil, lnEngy, lnCO2, lnGCE, lnTrd, TBrk] 1980, 2005 ARDL (1, 0, 0, 1, 0, 0) 8.614***
  1. Optimal lag length for all ARDL models selected based on Akaike information criterion (AIC); restricted intercept and no trend; ** and *** indicate 5% level and 1% level of significance, respectively
Critical value bounds 1% 5% 10%
I0 bound (K = 5) 3.657 2.734 2.306
I1 bound (K = 5) 5.256 3.920 3.353
I0 bound (K = 6) 3.505 2.618 2.218
I1 bound (K = 6) 5.121 3.863 3.314
  1. Optimal lag length for all ARDL models selected based on Akaike information criterion (AIC); restricted intercept and no trend; ** and *** indicate 5% level and 1% level of significance, respectively