Table 7

Diagnostic tests

BangladeshIndiaPakistanSri Lanka
χ2 valuep-valueχ2 valuep-valueχ2 valuep-valueχ2 valuep-value
BG-LM0.5860.742.4240.290.4920.791.4860.47
ARCH1.9130.160.4170.811.0250.590.9480.62
JB Stat0.6250.731.4770.470.8670.650.1650.92
RESET0.1250.970.0410.950.7980.461.5340.24

Note(s): ***Significant at 1% level; **significant at 5% level; and *significant at 10% level

Source(s): Findings by authors

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