Table 8 OLS estimates and diagnosis...

Table 8

OLS estimates and diagnosis tests

Variables		3rd Wave	4th Wave	5th Wave	6th Wave	7th Wave
Variables		1994–1998	1999–2004	2005–2009	2010–2014	2017–2021
Constant		2.552	2.960	3.106	4.328**	6.3224*
Cultural variables	TRUST	−2.435*	−0.889	−0.8104	−2.110**	−2.3138*
	SATISFACTION	0.581**	0.444**	0.5372***	0.379**	−0.0673
	POST_MATERIALIST_INDEX	0.161	1.516***	0.0953	0.491	1.4630***
	AUTONOMY _INDEX	0.168	0.383	0.7952**	0.126	0.5080
Economic variables (Control variables)	FDI_TO_GDP	0.006	0.036	0.0203	0.006	−0.0724*
	TRADE_TO_GDP	0.006	0.003	0.0005	0.002	0.0069**
	SCHOOL_ENROLLMENT_PRIMA	0.060*	0.004	0.0361**	0.053***	0.0426
N (Countries)		53	39	57	59	56
R-squared		0.459	0.657	0.589	0.590	0.5932
R-squared (adj.)		0.375	0.579	0.530	0.534	0.5327
F. Statistics		5.447681	8.481	10.028	10.495	9.7926
Prob(F-statistic)		0.000142	0.000	0	0.000	0.0000
Diagnosis Tests
Serial Correlation LM Test: Breusch-Godfrey (Chi-squared) Null Hypothesis (H0): there is no serial correlation		4.103364 (0.1285)	4.894958 (0.0865)	2.126108 (0.1306)	3.343257 (0.1879)	1.127863 (0.5690)
Heteroskedasticity Test: Breusch-Pagan-Godfrey (Chi-squared) Null Hypothesis (H0): Homoscedasticity is present		4.680588 (0.6989)	10.43826 (0.1651)	7.881646 (0.3431)	8.202674 (0.3151)	10.34206 (0.1700)

Variables		3rd Wave	4th Wave	5th Wave	6th Wave	7th Wave
Variables		1994–1998	1999–2004	2005–2009	2010–2014	2017–2021
Constant		2.552	2.960	3.106	4.328**	6.3224*
Cultural variables	TRUST	−2.435*	−0.889	−0.8104	−2.110**	−2.3138*
	SATISFACTION	0.581**	0.444**	0.5372***	0.379**	−0.0673
	POST_MATERIALIST_INDEX	0.161	1.516***	0.0953	0.491	1.4630***
	AUTONOMY _INDEX	0.168	0.383	0.7952**	0.126	0.5080
Economic variables (Control variables)	FDI_TO_GDP	0.006	0.036	0.0203	0.006	−0.0724*
	TRADE_TO_GDP	0.006	0.003	0.0005	0.002	0.0069**
	SCHOOL_ENROLLMENT_PRIMA	0.060*	0.004	0.0361**	0.053***	0.0426
N (Countries)		53	39	57	59	56
R-squared		0.459	0.657	0.589	0.590	0.5932
R-squared (adj.)		0.375	0.579	0.530	0.534	0.5327
F. Statistics		5.447681	8.481	10.028	10.495	9.7926
Prob(F-statistic)		0.000142	0.000	0	0.000	0.0000
Diagnosis Tests
Serial Correlation LM Test: Breusch-Godfrey (Chi-squared)Null Hypothesis (H0): there is no serial correlation		4.103364 (0.1285)	4.894958 (0.0865)	2.126108 (0.1306)	3.343257 (0.1879)	1.127863 (0.5690)
Heteroskedasticity Test: Breusch-Pagan-Godfrey (Chi-squared)Null Hypothesis (H0): Homoscedasticity is present		4.680588 (0.6989)	10.43826 (0.1651)	7.881646 (0.3431)	8.202674 (0.3151)	10.34206 (0.1700)

Note(s): (***), (**), and (*) indicate the significance of the estimated coefficients at (1%), (5%), and (10%) levels of significance, respectively Breusch-Godfrey tests for serial correlation, The Breusch-Pagan test is used to determine whether or not heteroscedasticity is present in a regression model

Source(s): Authors' estimation

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