Table 3.

Robustness test

Indicator	Value	Std. dev	T-sig	P-sig	R2	Sparsity
τ = 10th
COVID-19 RCI	4.24*	4.16	1.56	0.000	0.66	1045.12
COVID-19 RDI	1.74*	0.64	0.44	0.017		(0.000)
COVID-19 GFI	1.57*	0.75	0.47	0.000
MA-CC	0.77*	0.15	0.64	0.027
MA-POL	0.44*	0.27	0.77	0.014
C	107.44	111.64	0.75	0.011
τ = 25th
COVID-19 RCI	4.04*	1.11	1.06	0.040	0.72	1424.05
COVID-19 RDI	1.05*	0.57	0.44	0.026		(0.000)
COVID-19 GFI	0.46*	0.77	0.20	0.000
MA-CC	0.77*	0.40	0.22	0.001
MA-POL	0.64*	0.74	0.01	0.004
C	124.74	217.01	0.65	0.000
τ = 50th
COVID-19 RCI	4.16*	4.14	4.44	0.000	0.62	1077.64
COVID-19 RDI	4.44*	2.47	4.11	0.025		(0.000)
COVID-19 GFI	2.02*	2.54	0.01	0.044

Note: * indicates 1% significance level