| Model 1A | Model 1B | Model 1C | Model 1D | ||||
---|---|---|---|---|---|---|---|---|
tests | Statistics | Prob | Statistics | Prob | Statistics | Prob | Statistics | Prob |
Pesaran’s test | 8.862*** | 0.0000 | 5.971*** | 0.0000 | 3.673*** | 0.0000 | 0.148 | 0.8824 |
Frees’ test | 10.067*** | 0.0000 | 10.309*** | 0.0000 | 8.010*** | 0.0000 | 8.386*** | 0.0000 |
Friedman’s test | - | - | - | - | - | - | 16.254 | 0.9805 |