Table 3 BDS test ( Broock et al. , 1996...

Table 3

BDS test (Broock et al., 1996)

Country		m = 2	m = 3	m = 4	m = 5	m = 6
Indonesia	${F D I}_{t}$	0.059***	0.117***	0.142***	0.156***	0.155***
	$K_{t}$	0.161***	0.266***	0.335***	0.375***	0.397***
	$T_{t}$	0.098***	0.174***	0.209***	0.214***	0.216***
	${P O P}_{t}$	0.205***	0.347***	0.447***	0.516***	0.565***
Malaysia	${F D I}_{t}$	0.055***	0.075***	0.086***	0.079**	0.074**
	$K_{t}$	0.124***	0.200***	0.235***	0.244***	0.235***
	$T_{t}$	0.181***	0.314***	0.404***	0.461***	0.491***
	${P O P}_{t}$	0.172***	0.276***	0.336***	0.368***	0.377***
Philippines	${F D I}_{t}$	0.068***	0.085***	0.071***	0.049**	0.047**
	$K_{t}$	0.103***	0.167***	0.198***	0.204***	0.202***
	$T_{t}$	0.164***	0.272***	0.342***	0.386***	0.401***
	${P O P}_{t}$	0.187***	0.308***	0.388***	0.442***	0.481***
Singapore	${F D I}_{t}$	0.060***	0.101***	0.111***	0.120***	0.120***
	$K_{t}$	0.123***	0.206***	0.262***	0.292***	0.302***
	$T_{t}$	0.112***	0.193***	0.239***	0.252***	0.256***
	${P O P}_{t}$	0.192***	0.321***	0.410***	0.471***	0.515***
Thailand	${F D I}_{t}$	0.052***	0.117***	0.154***	0.160***	0.157***
	$K_{t}$	0.131***	0.218***	0.270***	0.287***	0.288***
	$T_{t}$	0.189***	0.321***	0.415***	0.480***	0.521***
	${P O P}_{t}$	0.203***	0.341***	0.438***	0.505***	0.554***
S. Kores	${F D I}_{t}$	0.079***	0.114***	0.148***	0.183***	0.204***
	$K_{t}$	0.119***	0.203***	0.257***	0.278***	0.279***
	$T_{t}$	0.169***	0.280***	0.354***	0.400***	0.421***
	${P O P}_{t}$	0.186***	0.313***	0.398***	0.454***	0.488***
Japan	${F D I}_{t}$	0.166***	0.261***	0.320***	0.348***	0.369***
	$K_{t}$	0.167***	0.274***	0.342***	0.387***	0.418***
	$T_{t}$	0.124***	0.189***	0.224***	0.233***	0.229***
	${P O P}_{t}$	0.189***	0.331***	0.430***	0.499***	0.548***

Country		m = 2	m = 3	m = 4	m = 5	m = 6
Indonesia	${F D I}_{t}$	0.059***	0.117***	0.142***	0.156***	0.155***
	$K_{t}$	0.161***	0.266***	0.335***	0.375***	0.397***
	$T_{t}$	0.098***	0.174***	0.209***	0.214***	0.216***
	${P O P}_{t}$	0.205***	0.347***	0.447***	0.516***	0.565***
Malaysia	${F D I}_{t}$	0.055***	0.075***	0.086***	0.079**	0.074**
	$K_{t}$	0.124***	0.200***	0.235***	0.244***	0.235***
	$T_{t}$	0.181***	0.314***	0.404***	0.461***	0.491***
	${P O P}_{t}$	0.172***	0.276***	0.336***	0.368***	0.377***
Philippines	${F D I}_{t}$	0.068***	0.085***	0.071***	0.049**	0.047**
	$K_{t}$	0.103***	0.167***	0.198***	0.204***	0.202***
	$T_{t}$	0.164***	0.272***	0.342***	0.386***	0.401***
	${P O P}_{t}$	0.187***	0.308***	0.388***	0.442***	0.481***
Singapore	${F D I}_{t}$	0.060***	0.101***	0.111***	0.120***	0.120***
	$K_{t}$	0.123***	0.206***	0.262***	0.292***	0.302***
	$T_{t}$	0.112***	0.193***	0.239***	0.252***	0.256***
	${P O P}_{t}$	0.192***	0.321***	0.410***	0.471***	0.515***
Thailand	${F D I}_{t}$	0.052***	0.117***	0.154***	0.160***	0.157***
	$K_{t}$	0.131***	0.218***	0.270***	0.287***	0.288***
	$T_{t}$	0.189***	0.321***	0.415***	0.480***	0.521***
	${P O P}_{t}$	0.203***	0.341***	0.438***	0.505***	0.554***
S. Kores	${F D I}_{t}$	0.079***	0.114***	0.148***	0.183***	0.204***
	$K_{t}$	0.119***	0.203***	0.257***	0.278***	0.279***
	$T_{t}$	0.169***	0.280***	0.354***	0.400***	0.421***
	${P O P}_{t}$	0.186***	0.313***	0.398***	0.454***	0.488***
Japan	${F D I}_{t}$	0.166***	0.261***	0.320***	0.348***	0.369***
	$K_{t}$	0.167***	0.274***	0.342***	0.387***	0.418***
	$T_{t}$	0.124***	0.189***	0.224***	0.233***	0.229***
	${P O P}_{t}$	0.189***	0.331***	0.430***	0.499***	0.548***

Note(s): The null hypothesis is linearity, and the alternative is nonlinearity. The entries indicate the BDS statistics. ***, ** indicate a rejection of the null at 1 and 5% levels, respectively, using Bootstrap probabilities

Source(s): The authors

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