Czech

Hungary

Poland

Turkey

Malaysia

Taiwan (China)

δ⁽¹⁾

−1.355^#

−1.480^*

−0.534^*

1.096^#

−3.466^#

0.443^#

(0.411)

(0.614)

(0.265)

(0.265)

(0.452)

(0.098)

δ⁽²⁾

0.603^#

0.590^#

0.526^#

0.474^#

0.304^#

−5.712^#

(0.097)

(0.124)

(0.124)

(0.147)

(0.060)

(0.426)

${\alpha }_0^{\left(\text{1}\right)}$

4.856^#

9.334^*

2.805^#

5.436^#

0.000

0.378^*

(1.828)

(3.893)

(0.694)

(2.064)

(0.671)

(0.148)

${\alpha }_0^{\left(\text{2}\right)}$

0.756^*

1.400^#

1.223^*

0.119

0.053

0.000

(0.367)

(0.536)

(0.494)

(0.133)

(0.034)

(0.814)

${\alpha }_1^{\left(\text{1}\right)}$

0.103

0.078

0.020

0.187^*

0.000

0.038^*

(0.088)

(0.097)

(0.040)

(0.075)

(0.142)

(0.021)

${\alpha }_1^{\left(\text{2}\right)}$

0.007

0.000

0.000

0.002

0.115^#

0.608^#

(0.052)

(0.047)

(0.062)

(0.013)

(0.020)

(0.019)

${\beta }_1^{\left(\text{1}\right)}$

0.866^#

0.922^#

0.966^#

0.776^#

0.976^#

0.817^#

(0.148)

(0.097)

(0.043)

(0.068)

(0.260)

(0.032)

${\beta }_1^{\left(\text{2}\right)}$

0.633^#

0.678^#

0.641^#

0.943^#

0.804^#

0.392^#

(0.071)

(0.066)

(0.089)

(0.020)

(0.023)

(0.019)

p

0.700^#

0.651^#

0.836^#

0.000

0.320^*

0.941^#

(0.099)

(0.103)

(0.047)

(0.383)

(0.148)

(0.013)

q

0.892^#

0.924^#

0.901^#

0.997^#

0.957^#

0.000

(0.029)

(0.025)

(0.031)

(0.002)

(0.011)

(0.058)

LL

−2114.186

−2284.355

−2215.347

−2627.958

−1937.305

−2188.143

p₁

0.736

0.822

0.625

0.997

0.941

0.056

p₂

0.264

0.178

0.375

0.003

0.059

0.944

SIC

5.060

5.461

5.298

6.270

4.613

5.234

Q(20)

32.184^*

20.532

26.444

37.321^*

29.551^†

19.647

Qs(20)

11.804

17.393

12.485

11.976

9.735

14.493

ARCH-LM

0.496

1.105

0.508

0.626

0.452

0.719