Table 2.
CD test results
| Variable | Test stat | Prob | Mean abs (ρ) |
|---|---|---|---|
| LHW | 69.211* | 0.000 | 0.932 |
| LNR | 39.606* | 0.000 | 0.543 |
| LFR | 15.851* | 0.000 | 0.325 |
| LGI | 8.877* | 0.000 | 0.200 |
| LEG | 50.232* | 0.000 | 0.711 |
Note: The symbol * represents the significance level at 1%
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