ARDL Model Dynamic Stability Test. The ARDL model was subjected to dynamic stability test by estimating the inverse root of AR characteristic polynomial. The result, which is depicted on Figure 2 reveals that all the roots were inside the unit circle. Consequently, it was concluded that the model of this study was dynamically stable. Inverse Roots of AR Characteristic Polynomial 1.5 1.0 0.5 0.0 -0.5 -1.0 -1.5 -1.5 -1.0 -0.5 0.0 0.5 1.0 1.5 Figure 2 : Invere Roots of AR characteristics polynomial
