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Table 10 Quantile Regression (tau = 0.1, 20, 30, 40, 50).

From: The stock market capitalisation and financial growth nexus: an empirical study of western European countries

Variable

Coefficient

Std. error

t-value

Sig

Method: quantile regression (tau = 0.1)

 C

80.43

6.219

12.93

0.000

 SMC

0.290

0.040

7.209

0.000

 FDINI

0.325

0.184

1.765

0.078

 GDPPG

 − 4.708

1.032

 − 4.559

0.000

 STTR

0.083

0.017

4.749

0.000

 CPI

 − 0.373

0.437

 − 0.855

0.392

 Pseudo-R-2

0.126

   

 Quasi-LR value

42.18

   

 sig(Quasi-LR stat)

0.000

   

Method: quantile regression (tau = 0.2)

 C

101.5

4.800

21.15

0.000

 SMC

0.246

0.030

7.971

0.000

 FDINI

0.225

0.177

1.267

0.205

 GDPPG

 − 3.870

0.781

 − 4.949

0.000

 STTR

0.050

0.017

2.907

0.003

 CPI

 − 1.489

0.492

 − 3.023

0.002

 Pseudo-R-2

0.108

   

 Quasi-LR value

47.13

   

 sig(Quasi-LR stat)

0.000

   

Method: quantile regression (tau = 0.3)

 C

112.7

3.909

28.84

0.000

 SMC

0.233

0.027

8.412

0.000

 FDINI

 − 0.021

0.242

 − 0.089

0.928

 GDPPG

 − 3.568

0.903

 − 3.947

0.000

 STTR

0.053

0.026

2.016

0.044

 CPI

 − 1.758

0.461

 − 3.807

0.000

 Pseudo-R-2

0.116

   

 Quasi-LR value

61.51

   

 sig(Quasi-LR stat)

0.000

   

Method: quantile regression (tau = 0.4)

 C

120.9

5.471

22.10

0.000

 SMC

0.203

0.031

6.545

0.000

 FDINI

0.134

0.262

0.512

0.608

 GDPPG

 − 3.573

0.968

 − 3.690

0.000

 STTR

0.088

0.074

1.178

0.239

 CPI

 − 1.872

0.510

 − 3.669

0.000

 Pseudo-R-2

0.129

   

 Quasi-LR value

73.74

   

 sig (Quasi-LR stat)

0.000

   

Method: quantile regression (tau = 0.5) (median)

 C

123.3

5.511

22.37

0.000

 SMC

0.213

0.034

6.142

0.000

 FDINI

0.342

0.256

1.332

0.183

 GDPPG

− 2.214

1.188

− 1.862

0.063

 STTR

0.088

0.072

1.215

0.225

 CPI

− 1.949

0.542

− 3.595

0.000

 Pseudo-R-2

0.132

   

 Quasi-LR value

74.09

   

 sig(Quasi-LR stat)

0.000

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