Table 3 Regressing GDP on SEC index
I | II | III | IV | 1% | 10% | |
|---|---|---|---|---|---|---|
\(SEC^{quarterly}_q\) | \(0.85^{***}\) | \(0.84^{***}\) | \(0.77^{***}\) | |||
(0.10) | (0.10) | (0.10) | ||||
\(SEC_q^{m_1}\) | \(0.79^{***}\) | \(-0.42\) | \(-0.77^{*}\) | |||
(0.12) | (0.33) | (0.31) | ||||
\(SEC_q^{m_2}\) | \(1.16^{***}\) | 0.14 | ||||
(0.30) | (0.34) | |||||
\(SEC_q^{m_3}\) | \(1.29^{***}\) | |||||
(0.26) | ||||||
F-test: \(\beta _i^m = 0\) | 18.32 (0.00) | 13.52 (0.00) | 12.45 (0.00) | |||
F-test: \(\beta _1^m = ... = \beta _i^m\) | 4.85 (0.03) | 7.08 (0.01) | ||||
SER | 0.46 | 0.36 | 0.44 | 0.55 | 0.44 | 0.44 |
Adj. R\(^2\) | 0.43 | 0.33 | 0.41 | 0.52 | 0.42 | 0.52 |
Num. obs. | 108 | 108 | 108 | 108 | 108 | 108 |