Table 4 Comparison of forecast accuracy of three models across years for each country using multivariate Diebold-Mariano (DM) test
Country | Null Hypothesis | Test Statistic Value | P-Value | Decision |
|---|---|---|---|---|
China | H0: SLC=FDM = BMS OR H0: All model hold Equal predictive accuracy | 64.354 | 0.000 | H0 is rejected |
Pakistan | 7.636 | 0.000 | H0 is rejected | |
India | 3624.1 | 0.000 | H0 is rejected | |
Thailand | 286.68 | 0.000 | H0 is rejected |