Effect of External Public Debt on Economic Growth: an Empirical Analysis of East African Countries

3.4 Data Sources
 .......................................................................................................... 27
 
3.5 Estimation Procedure
 ........................................................................................... 27
 
3.5.1 Descriptive Statistics
 ...................................................................................... 27
 
3.5.2 The Fixed Effects (FE) and the Random Effects (RE) Regression
 ............ 27
 
3.5.3 Hausman Test
 ................................................................................................. 28
 
3.5.4 Diagnostic Tests
 .............................................................................................. 28
 
3.5.4.1 Testing for Heteroskedasticity
 ................................................................... 28
 
CHAPTER FOUR
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RESULTS
 ........................................................................................................................ 29
 
4.1 Descriptive Statistics
 ............................................................................................. 29
 
4.2 Correlation
............................................................................................................. 30
 

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vii 
4.3 Multicollinearity
 .................................................................................................... 31
 
4.4 Heteroskedasticity Test
 ........................................................................................ 32
 
4.5 Fixed Effects Model (FEM)
 .................................................................................. 32