Unctional kind is appropriately formulated. ordinarily distributed 4.497 0.05 Correlation LM sum On top of

Unctional kind is appropriately formulated. ordinarily distributed 4.497 0.05 Correlation LM sum On top of that, the cumulative Test (CUSUM) of recursive residuals and cumulative sum In addition, the cumulative -Bera (CUSUM) of recursive residuals and cumulative sum sum Normality Jaraue 0.86 square (CUSUMSQ) of recursive residuals procedures 0.297 conducted to detect the stabilsquare (CUSUMSQ) ofRESET Test residuals techniqueswere conducted to detect the stabilwere Ramsey recursive 0.001 0.97 ity and reliability of L-Norvaline site estimated coefficients in the lengthy run and quick run. The results are ity and reliability ofAuthors’ estimate. Source: estimated coefficients in the lengthy run and quick run. The outcomes are presented in Figures 11and 2, respectively. presented in Figures and 2, respectively.10.0 10.0 7.five 7.five 5.0 5.0 two.five two.5 0.0 0.0 -2.five -2.five -5.0 -5.0 -7.5 -7.5 -10.0 -10.0 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018CUSUM CUSUM5 Significance five SignificanceFigure 1. Cumulative sum1.(CUSUM)of sum (CUSUM) of recursive residuals. Figure Cumulative recursive residuals. Figure 1. Cumulative sum(CUSUM) ofrecursive residuals.1.six 1.1.2 1.0.eight 0.0.4 0.0.0 0.-0.four -0.2009201020112012201320142015201620172018CUSUM of Squares CUSUM of Squares5 Significance 5 SignificanceFigure two. Cumulative sum square (CUSUMSQ) of recursive residuals. Figure 2. Cumulative sum square sum square (CUSUMSQ) of recursive residuals. Figure 2. Cumulative (CUSUMSQ) of recursive residuals.Economies 2021, 9,11 ofFigures 1 and 2 illustrate that the cumulative sum (CUSUM) of recursive residuals and cumulative sum square (CUSUMSQ) of recursive residuals fall inside the crucial bounds straight line at a 5 significance level. This getting indicates that the estimated coefficients are stable and dependable during the study period. 5. Conclusions and Policy Implication This study examined the influence of industrialization, trade openness, economic improvement, and energy consumption on economic development in Indonesia over the period 1984018. The study employed the ARDL model and estimated the long-run and short-run partnership in between the variables when the robustness check was conducted using FMOLS, DOLS, and CCR. The empirical strategy in the Phillips and Perron (PP) and augmented Dickey-Fuller (ADF) tests showed that the series is integrated at various orders. The result on the bounds test for Share this post on: