Wald test

manufacturing

labor

capital

technology

SAR

25.41**

6.72

13.18**

11.14*

SEM

17.95***

10.36

20.34***

21.41***

AIC test

SAR

AIC

-

216.5124

-

301.6393

BIC

-

241.1715

-

328.7642

SEM

AIC

-

229.2241

-

303.7293

BIC

-

253.8832

-

330.8543