Country

KAZ

UZB

TUR

Period

I

II

I

I

II

x0

59.28

137.98

18.52

8.75

20.68

y0

64.80

148.05

54.54

18.11

41.11

loga

0.0550

1.0539

0.6302

1.1856

0.0429

t-value

(0.6023)

(7.3410)

(17.9640)

(9.8293)

(0.1942)

P-value

(0.5636)

(0.0018)

(0.0000)

(0.0000)

(0.8554)

logb

0.9933

0.4626

0.3533

0.5980

1.2589

t-value

(16.1874)

(6.4632)

(8.4688)

(3.1306)

(7.1884)

P-value

(0.0000)

(0.0029)

(0.0000)

(0.0140)

(0.0019)

R2

0.9703

0.9126

0.8885

0.5505

0.9281