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What is ARDL Bound Test

Chapter 14
Handbook of Research on Current Trends in Asian Economics, Business, and Administration
It is an econometric methods used to capture short run and long run causality relationships.
Published in Chapter:
Stock Market Responses to Monetary and Fiscal Policies: Case Studing China, India, Indonesia, and Malaysia
Elif Erer (Independent Researcher, Turkey) and Deniz Erer (Independent Researcher, Turkey)
Copyright: © 2022 |Pages: 17
DOI: 10.4018/978-1-7998-8486-6.ch014
Abstract
This study analyzes the short-run and long-run effects of interaction between fiscal and monetary policies on stock market performance in four emerging Asian economies, which are China, India, Indonesia, and Malaysia, by using ARDL model. The study covers the period of 2003:Q1-2020:Q1. The findings from this study show monetary and fiscal policies play an important role in determining stock market returns. Also, the results theoretically support Richardian neutrality hypothesis for China and Indonesia, Keynesian positive effect hypothesis for India, and classical crowding out effect hypothesis for Malaysia, and interest channel of monetary transmission mechanism only for China.
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More Results
Chapter 9
Changing Patterns of Energy Use and Its Linkage With Some Macroeconomic Variables in India and China
Autoregressive Distributed Lag Model (ARDL) Bounds testing procedure is a powerful statistical tool in the estimation of level relationships when the underlying property of time series is entirely I(0), entirely I(1) or jointly co-integrated. Bound testing as an extension of ARDL modelling uses F and t- statistics to test the significance of the lagged levels of the variables in a univariate equilibrium correction system when it is unclear if the data generating process underlying a time series is trend or first difference stationary. Here the ARDL model is applied to examine the short and long run association between variables.
Published in Chapter: Changing Patterns of Energy Use and Its Linkage With Some Macroeconomic Variables in India and China; From: Handbook of Research on Economic and Political Implications of Green Trading and Energy Use
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