Table 5.
CSD test results.
| Variables | Breusch-Pagan LM |
Pesaran scaled LM |
Pesaran CD |
|||
|---|---|---|---|---|---|---|
| Statistics | p-values | Statistics | p-values | Statistics | p-values | |
| lnCO2 | 390.57*** | 0.000 | 42.189*** | 0.005 | 10.378*** | 0.000 |
| lnTG | 253.86*** | 0.000 | 29.652*** | 0.000 | 16.902*** | 0.000 |
| lnER | 175.43*** | 0.000 | 26.345*** | 0.000 | 9.763*** | 0.001 |
| lnEG | 219.29*** | 0.000 | 32.035*** | 0.000 | 12.156*** | 0.000 |
| lnP | 146.75*** | 0.000 | 29.179*** | 0.000 | 11.529*** | 0.000 |
| lnU | 382.14*** | 0.005 | 37.442*** | 0.000 | 25.984*** | 0.000 |
| lnTR | 112.27*** | 0.000 | 20.659*** | 0.000 | 19.627*** | 0.000 |
1. *** suggests statistical relevance at the 1 % threshold.