TABLE 11.
Diagnostic test results.
| Heteroskedasticity | Value | Serial correlation | Value | Heteroskedasticity | Value | Serial correlation | Value |
| SR | FTMR | ||||||
| F-statistic | 1.321 | F-statistic | 0.5464 | F-statistic | 1.527 | F-statistic | 2.3644 |
| Ramsey RESET | F-statistic | 2.3623 | Ramsey RESET | F-statistic | 1.7672 | ||
| NSR | DAXR | ||||||
| Heteroskedasticity | Serial Correlation | Heteroskedasticity | Serial Correlation | ||||
| F-statistic | 0.210 | F-statistic | 0.6362 | F-statistic | 0.264 | F-statistic | 0.8397 |
| Ramsey RESET | F-statistic | 0.1927 | Ramsey RESET | F-statistic | 0.2731 | ||
| IBER | LSER | ||||||
| Heteroskedasticity | Serial Correlation | Heteroskedasticity | Serial correlation | ||||
| F-statistic | 0.929 | F-statistic | 1.4019 | F-statistic | 0.479 | F-statistic | 1.9939 |
| Ramsey RESET | F-statistic | 0.4698 | Ramsey RESET | F-statistic | 1.3502 | ||
*, **, and *** denote 10, 5, and 1% level of significance, respectively. Source: Author’s calculation.