Table 2. The results of Pesaran cross sectional dependency test .
| Variable | CD-test | P |
| Lpvt | 15.76 | 0.00 |
| Lpub | 31.98 | 0.00 |
| Lgdp | 38.74 | 0.00 |
| Lpopu1 | 46.86 | 0.00 |
| Lpopu2 | 47.17 | 0.00 |
| Lurb | 42.24 | 0.00 |
| Lflab | 25.88 | 0.00 |
| Ledu | 54.28 | 0.00 |
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