Testing the relationship between financial sector output, employment and economic growth in North Cyprus

Financial Innovation

Table 3 Bai and Perron Structural break test

Series	Break test	f-statistics	Critical value	Break date
Financial sector output	0 vs. 1 ^a	46.18498	13.98	1991
	1 vs. 2 ^a	25.13786	15.72	1996
	2 vs. 3 ^a	32.91620	16.83	2001
	3 vs. 4 ^a	19.87723	17.61	2006
GDP	0 vs. 1 ^a	1072.636	13.98	2001
	1 vs. 2 ^a	30.72901	15.72	2006
Employment	0 vs. 1 ^a	163.8459	16.19	2004