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Cross-sectional dependence test results
| Residual cross-section dependence test (full panel) | ||||||
| Pesaran (2004) CD test | Statistic | p-value | ||||
| 81.09 | 0.0000 | |||||
| Cross-section dependence test (individual variable) | ||||||
| Variable | ln CO2 | lnGDP | URB | REN | GOV | |
| Statistic | 41.14*** | 130.05*** | 115.72** | 45.63*** | -1.18 | |
*** and ** indicate 1 and 5% level of significance
