Table 3.
Cross-sectional Dependence tests.
| Variables | Breusch-Pagan LM | Pesaran Scaled LM | Pesaran CD |
|---|---|---|---|
| GFDIit | 43.646∗∗ (0.231) | 23.239∗∗ (0.842) | 8.982∗∗ (0.771) |
| REMit | 34.591∗∗ (0.245) | 18.423∗∗ (0.622) | 6.855∗∗ (0.562) |
| ODAit | 33.125∗∗ (0.311) | 23.987∗∗ (0.556) | 6.013∗∗ (0.341) |
| TOit | 75.991∗∗ (0.298) | 3.868∗∗ (0.479) | 9.163∗∗ (0.228) |
| POPit | 80.213∗∗ (0.376) | 19.538∗∗ (0.557) | 4.267∗∗ (0.375) |
| INFit | 36.091∗∗ (0.344) | 6.725∗∗ (0.775) | 3.136∗∗ (0.598) |
| EDUit | 23.626∗∗ (0.401) | 13.193∗∗ (0.663) | 3.295∗∗ (0.387) |
| HEALTHit | 25.663∗∗ (0.443) | 12.892∗∗ (0.705) | 4.112∗∗ (0.658) |
| EGit | 29.095∗∗ (0.264) | 6.993∗∗ (0.499) | 3.092∗∗ (0.226) |
| HDIit | 26.458∗∗ (0.193) | 74.774∗∗ (0.472) | 13.995∗∗ (0.332) |
Brackets (.) denotes P-Value, ** denotes 5 % significance level.