ISRAEL

−0.0021

0.0529

−0.0726

3.8741

2.1266

−0.1310

−0.1170

0.1620

JAPAN

0.0021

0.0407

−0.2057

3.2144

0.5827

−0.0220

−0.0710

−0.0550

NETHERLANDS

0.0047

0.0487

−0.1601

2.9312

0.2905

−0.1190

−0.0460

0.1140

NEWZEALAND

0.0062

0.0565

0.1250

3.1221

0.2097

−0.0540

−0.0230

0.0100

SINGAPORE

0.0028

0.0363

0.1540

3.7660

1.8459

0.0370

−0.1530

0.0650

SPAIN

−0.0011

0.0716

0.3265

3.2760

1.3613

−0.0870

0.0620

0.0880

SWEDEN

0.0009

0.0547

0.0171

3.6901

1.2930

−0.0890

−0.0690

−0.0130

SWITZERLAND

0.0038

0.0415

−0.5218

3.4525

3.5043

−0.1300

0.0420

0.1410

UNITED KINGDOM

0.0004

0.0440

−0.1415

3.0285

0.2192

−0.2530

0.0170

0.0850

USA

0.0084

0.0344

−0.0316

3.5028

0.6956

−0.1210

−0.1050

−0.0050

NORWAY

0.0003

0.0415

−0.2409

3.4860

1.2685

0.0990

−0.1460

−0.1680

Emerging Countries

Countries

M.R.

S.D.

SKEWNESS

KURTOSIS

J.B. Stat.

Autocorrelations

L1

L2

L3

BRAZIL

−0.0128

0.0910

0.6621

4.2094

8.7105

0.0060

−0.0840

−0.1340

CHILE

−0.0098

0.0611

0.1147

4.0466

3.1091

−0.1310

0.0120

−0.1470

CHINA

−0.0006

0.0644

−0.0739

3.4655

0.6461

0.0050

−0.0690

−0.0130

COLOMBIA

−0.0091

0.0724

0.2445

3.1222

0.6882

0.0530

0.0990

−0.0350

CZECH REPUBLIC

−0.0076

0.0651

0.3823

3.2141

1.7073

−0.0940

0.0300

−0.0900

EGYPT

−0.0008

0.0882

0.3111

3.6964

2.3616

−0.1060

−0.0240

0.0610

GREECE

−0.0229

0.1312

−0.2966

3.0437

0.9582

0.0360

0.0680

0.1870

HUNGARY

−0.0002

0.0920

−0.0425

3.8785

2.1096

−0.0320

−0.0960

0.1310

INDIA

−0.0007

0.0697

0.2476

3.2905

0.8928

−0.0780

−0.2500

0.1520

INDONESIA

−0.0010

0.0641

−0.3861

3.1823

1.7047

0.0170

−0.1000

0.1280

KOREA

−0.0006

0.0587

0.2168

3.3033

0.7582

−0.0370

−0.2100

0.0720

MALAYSIA

−0.0031

0.0461

−0.1308

4.6186

7.2812

−0.0620

−0.0270

−0.0020

MEXICO

−0.0019

0.0534

0.0883

3.7237

1.5029

−0.1250

−0.1740

0.1010

PERU

−0.0055

0.0690

0.0359

2.8186

0.1031

−0.0730

0.0650

0.1910

PHILIPPINES

0.0089

0.0531

−0.1738

2.6682

0.6255

−0.0440

−0.1250

0.1830

POLAND

−0.0075

0.0751

0.1590

3.4183

0.7477

−0.1000

−0.0840

0.1350

QATAR

0.0009

0.0523

−1.0995

7.1684

60.1542

−0.3170

0.0390

0.1520

SOUTH AFRICA

−0.0040

0.0611

0.0179

3.2617

0.1889

−0.1330

−0.1260

−0.0520

TAIWAN

−0.0008

0.0473

−0.2761

2.5694

1.3282

−0.0110

−0.0280

0.0000

THAILAND

0.0020

0.0618

−0.3657

2.9884

1.4495

−0.0220

−0.1880

0.0890

TURKEY

−0.0040

0.0851

0.2033

2.4006

1.4208

0.0980

−0.1770

−0.1930

RUSSIA

−0.0063

0.0899

0.0251

3.7074

1.3621

0.0020

−0.1950

−0.0150

Frontier Countries

Countries

M.R.

S.D.

SKEWNESS

KURTOSIS

J.B. Stat.

Autocorrelations

L1

L2

L3

ARGENTINA

0.0029

0.1229

0.4524

4.6734

9.8009

−0.0260

−0.0590

0.0070