Table 3 CD test results.
From: Debt sustainability and the fiscal reaction function: evidence from MIST countries
Tests | Statistic | Probability |
|---|---|---|
Null hypothesis: there is no CD among selected countries | ||
Frees test | 0.8760*** | |
Frees’ Q distribution | 0.0924 | 10% |
0.1204 | 5% | |
0.1726 | 1% | |
Pesaran CD test | 5.462*** | 0.0000 |
Friedman test | 64.818*** | 0.0000 |
Breusch–Pagan LM | 38.194*** | 0.0000 |