Table 3.
Single threshold effect test | Double threshold effect test | ||||||
---|---|---|---|---|---|---|---|
Threshold value | F-statistics | p-Value | Threshold value | F-statistics | p-Value | ||
BRICS | 0.0649* | 9.2232 | 0.0810 | 0.0649 | 0.0752 | 8.8047 | 0.1500 |
ASEAN | 0.0357** | 13.2673 | 0.0434 | 0.0357 | 0.0438 | 7.2657 | 0.1900 |
, and
respectively indicates significance at the 5, and 10% level.