Table 2 Threshold estimates of finance... | Emerald Publishing

Table 2

Threshold estimates of finance

	Model 1 [FIN = Domestic Credit]
	(1)	(2)	(3)	(4)	(5)
	Venezuela	Congo	Angola	Egypt	Argentina
First sample split
1. LM test for no threshold	8.48	4.59	5.36	7.53	6.57
2. Bootstrap p-value	0.01***	0.01***	0.01***	0.05**	0.01***
3. Threshold estimate	17.42	2.65	2.76	2.29	11.72
4. 95% confidence interval	(10.05, 20.50)	(2.19, 5.05)	(1.13, 9.46)	(1.20, 9.24)	(10.31, 20.12)
Second sample split
1. LM test for no threshold	5.25	7.97	4.22	3.27	2.65
2. Bootstrap p-value	0.32	0.19	0.26	0.31	0.12

	Model 1 [FIN = Domestic Credit]
	(1)	(2)	(3)	(4)	(5)
	Venezuela	Congo	Angola	Egypt	Argentina
First sample split
1. LM test for no threshold	8.48	4.59	5.36	7.53	6.57
2. Bootstrap p-value	0.01***	0.01***	0.01***	0.05**	0.01***
3. Threshold estimate	17.42	2.65	2.76	2.29	11.72
4. 95% confidence interval	(10.05, 20.50)	(2.19, 5.05)	(1.13, 9.46)	(1.20, 9.24)	(10.31, 20.12)
Second sample split
1. LM test for no threshold	5.25	7.97	4.22	3.27	2.65
2. Bootstrap p-value	0.32	0.19	0.26	0.31	0.12

	(6)	(7)	(8)	(9)	(10)
	Mozambique	Nigeria	Yemen	Azerbaijan	Ghana
First sample split
1. LM test for no threshold	11.14	4.43	10.40	4.83	13.39
2. Bootstrap p-value	0.05**	0.05**	0.01***	0.05**	0.05**
3. Threshold estimate	19.58	15.47	7.55	6.57	12.13
4. 95% confidence interval	(9.30, 21.02)	(10.32, 19.50)	(6.19, 10.43)	(4.42, 9.58)	(7.20, 18.23)
Second sample split
1. LM test for no threshold	4.81	3.24	5.02	2.27	5.18
2. Bootstrap p-value	0.21	0.61	0.11	0.18	0.29

	(6)	(7)	(8)	(9)	(10)
	Mozambique	Nigeria	Yemen	Azerbaijan	Ghana
First sample split
1. LM test for no threshold	11.14	4.43	10.40	4.83	13.39
2. Bootstrap p-value	0.05**	0.05**	0.01***	0.05**	0.05**
3. Threshold estimate	19.58	15.47	7.55	6.57	12.13
4. 95% confidence interval	(9.30, 21.02)	(10.32, 19.50)	(6.19, 10.43)	(4.42, 9.58)	(7.20, 18.23)
Second sample split
1. LM test for no threshold	4.81	3.24	5.02	2.27	5.18
2. Bootstrap p-value	0.21	0.61	0.11	0.18	0.29

Note(s): H₀: no threshold effect

Asterisks **, and*** denote the 5%, and 1% levels of significance, respectively