| Groups | ADF | Possible forms of ARIMA | Regression coefficients (prob) | R2 | AIC | SIC |
| 26 OECD | −5.81 (0.00) | (2, 1, 2) | AR(2) = 0.18 (0.36) MA(2) = −0.99 (0.04) | 0.33 | 51.48 | 51.62 | (2, 1, 12) | AR(2) = −0.47 (0.00) MA(12) = −0.89(0.02) | 0.65 | 50.81 | 50.95 | (13, 1, 12) | AR(13) = −0.62(0.00) MA(12) = −0.88 (0.05) | 0.70 | 50.85 | 51.01 |
| Upper middle income | −4.11(0.00) | (1, 1, 1) | AR(1) = 0.95 (0.02) MA(1) = −0.66 (0.00) | 0.33 | 52.26 | 52.4 | (1, 1, 3) | AR(1) = 0.47 (0.03) MA(3) = 0.39 (0.01) | 0.34 | 52.25 | 52.39 | (3, 1, 1) | AR(3) = 0.71 (0.00) MA(1) = 0.31 (0.22) | 0.38 | 52.24 | 52.38 | (3, 1, 3) | AR(3) = 0.78 (0.32) MA(3) = −0.06 (0.22) | 0.34 | 52.4 | 52.54 | (4, 1, 1) | AR(4) = 0.67 (0.01) MA(1) = 0.57 (0.00) | 0.36 | 52.24 | 52.38 | (4, 1, 3) | AR(4) = 0.52 (0.01) MA(3) = 0.33 (0.20) | 0.29 | 52.41 | 52.56 |
| Middle income | −8.15(0.00) | (1, 1, 1) | AR(1) = 0.98 (0.02) MA(1) = −0.68 (0.00) | 0.40 | 52.96 | 53.1 | (3, 1, 1) | AR(3) = 0.80 (0.00) MA(1) = 0.37 (0.00) | 0.48 | 52.87 | 53.01 | (3, 1, 3) | AR(3) = 0.93 (0.04) MA(3) = −0.08 (0.22) | 0.45 | 52.93 | 53.00 |
| Lower middle income | −8.5(0.00) | (1, 1, 1) | AR(1) = 0.91 (0.02) MA(1) = −0.58 (0.24) | 0.35 | 51.09 | 51.23 | (3, 1, 1) | AR(3) = 0.82 (0.00) MA(1) = 0.29 (0.38) | 0.45 | 50.96 | 51.10 | (3, 1, 3) | AR(3) = 0.61 (0.04) MA(3) = 0.46 (0.02) | 0.46 | 50.94 | 51.08 |
| Low income | −7.37 (0.00) | (1, 1, 1) | AR(1) = 0.95 (0.00) MA(1) = −0.67 (0.01) | 0.30 | 47.3 | 47.44 | (2, 1, 1) | AR(2) = 0.36 (0.28) MA(1) = 0.4 (0.01) | 0.16 | 47.5 | 47.64 | (3, 1, 1) | AR(3) = 0.9 (0.38) MA(1) = 0.18 (0.31) | 0.16 | 47.5 | 47.64 | (4, 1, 1) | AR(4) = 0.35 (0.28) MA(1) = 0.19 (0.21) | 0.14 | 47.57 | 47.61 |
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