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Table 3 Results of the model specification test for panel data

From: Effect of interest rate on economic performance: evidence from Islamic and non-Islamic economies

Specification test Tested Islamic countries Non-Islamic countries Selection
Saving Investment Saving Investment
F-test OLS/ 242.06 22.09 73.90 19.30 Fixed
fixed (0.000) (0.000) (0.000) (0.000)
Breusch– OLS/ 528.29 247.34 414.98 239.75 Random
Pagan random (0.000) (0.000) (0.000) (0.000)
(LM)
Hausman Fixed/ 4.863 9.248 6.885 9.949 Random
random (0.676) (0.235) (0.441) (0.191)
  1. Note: The definitions of the variables appear in the note under Table 1. The figures in parentheses are the p-values of the t-statistics. “LM” stands for Lagrange multiplier