Table 12.
Geweke’s (1982) measure of instantaneous feedback results
| Model (1) | Model (2) | Model (3) | |||
|---|---|---|---|---|---|
| Null hypothesisa | Chi2 stat. | Null hypothesisa | Chi2 stat. | Null hypothesisa | Chi2 stat. |
| lnREC and lnIOPEN | 0.425 | lnRES and lnIOPEN | 0.946 | lnEI and lnIOPEN | 2.177 |
| lnREC and lnCO2 | 1.168 | lnRES and lnCO2 | 1.240*** | lnEI and lnCO2 | 0.364 |
| lnREC and lnOIL | 0.306 | lnRES and lnOIL | 0.025 | lnEI and lnOIL | 16.125*** |
| lnREC and lnFDI | 0.312 | lnRES and lnFDI | 7.714*** | lnEI and lnFDI | 0.002 |
| lnREC and lnREMIT | 0.266 | lnRES and lnREMIT | 0.015 | lnEI and lnREMIT | 0.815 |
| lnREC and lnNODA | 0.130 | lnRES and lnNODA | 2.564* | lnEI and lnNODA | 0.953 |
| lnREC and lnGNIPC | 3.531* | lnRES and lnGNIPC | 0.176 | lnEI and lnGNIPC | 2.013 |
| lnREC and lnCPI | 0.004 | lnRES and lnCPI | 1.134 | lnEI and lnCPI | 4.132 |
aThe null hypothesis of the presence of instantaneous feedback; ***, **, and *Statistical significance at 1%, 5%, and 10% levels respectively