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Table 3 Results of Wooldridge test for serial correlation.

From: The impact of macroeconomic and institutional environment on NPL of developing and developed countries

Models

F-statistics (1, 404)

P-value

Pooled

5.795*

0.0197

UMIC

5.952*

0.0216

LMIC

3.010

0.0981

LIC

9.044

0.0573

HIC

2.982*

0.0268

  1. * indicate value at 5% significance level