| OEM versus AR | OEM versus ARMA | OEM versus ARFIMA | ||||||
In-sample | Out-of-sample | In-sample | Out-of-sample | In-sample | Out-of-sample | ||||
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Bahrain | 3.081*** | 3.032*** | 2.903*** | 3.118*** | 3.070*** | 2.941*** | 3.022*** | 2.974*** | 2.843*** |
Kuwait | −15.418*** | −15.988*** | −16.653*** | −14.673*** | −15.145*** | −15.721*** | −23.245*** | −23.526*** | −23.975*** |
Oman | −4.539*** | −4.515*** | −4.320*** | 1.251 | 1.307 | 1.076 | −6.424*** | −6.033*** | −5.108*** |
Qatar | 5.352*** | 4.902*** | 4.104*** | 5.359*** | 4.909*** | 4.112*** | 6.006*** | 5.598*** | 4.834*** |
Saudi Arabia | −6.917*** | −6.798*** | −6.637*** | −11.411*** | −11.299*** | −11.158*** | −6.573*** | −6.481*** | −6.351*** |
United Arab Emirate | 2.888*** | 2.835*** | 2.707*** | 3.146*** | 3.100*** | 2.971*** | 2.981*** | 2.932*** | 2.802*** |