Table 7. Results of diagnostic tests and...

Table 7.

Results of diagnostic tests and model forecast evaluation

Lag	LRE* stat	df	Prob.	Rao F-stat	df	p-value
VEC residual serial correlation LM test
1	37.73532	36	0.3899	1.054627	(36, 226.7)	0.3929
2	35.61494	36	0.4868	0.990938	(36, 226.7)	0.4897
3	37.84730	36	0.3850	1.058006	(36, 226.7)	0.3880

Lag	LRE* stat	df	Prob.	Rao F-stat	df	p-value
VEC residual serial correlation LM test
1	37.73532	36	0.3899	1.054627	(36, 226.7)	0.3929
2	35.61494	36	0.4868	0.990938	(36, 226.7)	0.4897
3	37.84730	36	0.3850	1.058006	(36, 226.7)	0.3880

VEC residual heteroskedasticity test
Chi-sq	df	p-value
906.5849	798	0.4423

VEC residual heteroskedasticity test
906.5849	798	0.4423

Model forecast evaluation
Variable	Included observations	RMSE	MAE	MAPE	Theil
BCI	22	11.47653	8.536784	6.786502	0.045473

Model forecast evaluation
BCI	22	11.47653	8.536784	6.786502	0.045473

Note(s):

Sample: 3 / 01/2019–6 / 01/2024; RMSE: root mean square error, MAE: mean absolute error, Mean Absolute Percentage Error, Theil: Theil inequality coefficient

Source(s): Author’s own work

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