Table 15.

Breusch–Godfrey serial correlation LM test for the model Romania and COVID-19 (Italy)—new cases and new deaths.

Breusch–Godfrey Serial Correlation LM Test:
ARDL—The number of new cases in Italy due to COVID-19
BET_R
F-statistic	0.636347	Prob. F(2,52)	0.5333
Obs*R-squared	1.743982	Prob. Chi-Square(2)	0.4181
RO_BOND
F-statistic	1.679769	Prob. F(4,40)	0.1737
Obs*R-squared	10.49876	Prob. Chi-Square(4)	0.0328
ARDL—The number of new deaths in Italy due to COVID-19
BET_R
F-statistic	0.057834	Prob. F(2,43)	0.9439
Obs*R-squared	0.19584	Prob. Chi-Square(2)	0.9067
RO_BOND
F-statistic	2.062798	Prob. F(2,41)	0.1401
Obs*R-squared	6.674006	Prob. Chi-Square(2)	0.0355

Source: authors’ own calculations. Notes: The Obs*R-squared statistic is the Breusch-Godfrey LM test statistic. This LM statistic is computed as the number of observations, times the (uncentered) R-squared from the test regression. For the definition of variables, please see Table 1.