Table 5.

Panel unit root test results (LLC and IPS tests).

Variable	Levin–Lin–Chu t-stat	Prob. (LLC)	Im–Pesaran–Shin W-stat	Prob. (IPS)	Stationarity decision
CBBR	−3.924	0.0001	−2.845	0.0022	I(0)
RENW	−2.635	0.0042	−3.124	0.0019	I(0)
GDPPC	−1.482	0.069	−3.257	0.0011	I(1)
GDPPC2	−1.582	0.057	−3.320	0.0010	I(1)
URB	−2.914	0.0018	−2.638	0.0042	I(0)
CO2E	−1.156	0.124	−4.028	0.0000	I(1)
PM2.5	−1.882	0.029	−2.412	0.008	I(0)
IMR	−5.174	0.0000	−3.866	0.0001	I(0)
U5MR	−4.887	0.0000	−3.744	0.0002	I(0)
GOV	−3.292	0.0005	−2.957	0.0017	I(0)
EFCS	−3.500	0.0002	−3.103	0.0020	I(0)