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Selecting transition variables using Taylor's approximation.
| Variables | Values |
||
|---|---|---|---|
| K = 1 | K = 2 | K = 3 | |
| IIT | 3.31 (0.039) |
3.65 (0.044) |
2.97 (0.038) |
| OPEN | 3.99 (0.017) |
4.74 (0.009) |
5.44 (0.005) |
| FDI | 3.97 (0.017) |
3.64 (0.037) |
3.41 (0.042) |
| GINI t-1 | 3.51 (0.031) |
3.37 (0.025) |
3.42 (0.041) |
Note: The LM test results for selecting linear or non-linear models and transfer variable.
