Threshold estimates of finance
| Model 2 [FIN =Liquid Liabilities] | |||||
|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | |
| Venezuela | Congo | Angola | Egypt | Argentina | |
| First sample split | |||||
| LM test for no threshold | 15.27 | 9.17 | 6.23 | 6.19 | 7.47 |
| Bootstrap p-value | 0.01 *** | 0.01*** | 0.05** | 0.05** | 0.05** |
| Threshold estimate | 19.50 | 7.53 | 11.30 | 7.88 | 8.62 |
| 95% confidence interval | (11.01, 22.42) | (3.81, 11.21) | (7.30, 12.50) | (5.80, 17.05) | (6.227, 16.62) |
| Second sample split | |||||
| LM test for no threshold | 7.10 | 5.13 | 9.80 | 2.69 | 4.16 |
| Bootstrap p-value | 0.44 | 0.61 | 0.18 | 0.91 | 0.77 |
| Model 2 [FIN =Liquid Liabilities] | |||||
|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | |
| Venezuela | Congo | Angola | Egypt | Argentina | |
| LM test for no threshold | 15.27 | 9.17 | 6.23 | 6.19 | 7.47 |
| Bootstrap | 0.01 *** | 0.01*** | 0.05** | 0.05** | 0.05** |
| Threshold estimate | 19.50 | 7.53 | 11.30 | 7.88 | 8.62 |
| 95% confidence interval | (11.01, 22.42) | (3.81, 11.21) | (7.30, 12.50) | (5.80, 17.05) | (6.227, 16.62) |
| LM test for no threshold | 7.10 | 5.13 | 9.80 | 2.69 | 4.16 |
| Bootstrap | 0.44 | 0.61 | 0.18 | 0.91 | 0.77 |
| (6) | (7) | (8) | (9) | (10) | |
|---|---|---|---|---|---|
| Mozambique | Nigeria | Yemen | Azerbaijan | Ghana | |
| First sample split | |||||
| LM test for no threshold | 6.62 | 8.27 | 12.78 | 7.78 | 6.31 |
| Bootstrap p-value | 0.01*** | 0.05** | 0.05** | 0.01*** | 0.05*** |
| Threshold estimate | 16.51 | 17.69 | 11.62 | 13.69 | 13.00 |
| 95% confidence interval | (9.57, 22.54) | (10.26, 20.79) | (9.68, 14.08) | (11.58, 18.25) | (9.64, 16.41) |
| Second sample split | |||||
| LM test for no threshold | 4.10 | 4.56 | 5.19 | 4.36 | 3.21 |
| Bootstrap p-value | 0.23 | 0.60 | 0.30 | 0.27 | 0.31 |
| (6) | (7) | (8) | (9) | (10) | |
|---|---|---|---|---|---|
| Mozambique | Nigeria | Yemen | Azerbaijan | Ghana | |
| LM test for no threshold | 6.62 | 8.27 | 12.78 | 7.78 | 6.31 |
| Bootstrap | 0.01*** | 0.05** | 0.05** | 0.01*** | 0.05*** |
| Threshold estimate | 16.51 | 17.69 | 11.62 | 13.69 | 13.00 |
| 95% confidence interval | (9.57, 22.54) | (10.26, 20.79) | (9.68, 14.08) | (11.58, 18.25) | (9.64, 16.41) |
| LM test for no threshold | 4.10 | 4.56 | 5.19 | 4.36 | 3.21 |
| Bootstrap | 0.23 | 0.60 | 0.30 | 0.27 | 0.31 |
Note(s): H0: no threshold effect
Asterisks **, and*** denote the 5%, and 1% levels of significance, respectively