Table 3.
BDS results.
| Country | Variable | Dimension |
|||
|---|---|---|---|---|---|
| 2 | 3 | 4 | 5 | ||
| Angola | TFP | 45.509∗∗∗ | 50.641∗∗∗ | 57.166∗∗∗ | 66.524∗∗∗ |
| EC | 49.068∗∗∗ | 57.659∗∗∗ | 39.749∗∗∗ | -3.015∗∗∗ | |
| CO2 | 37.686∗∗∗ | 42.934∗∗∗ | 49.951∗∗∗ | 60.464∗∗∗ | |
| Benin | TFP | 27.056∗∗∗ | 26.659∗∗∗ | 26.558∗∗∗ | 26.865∗∗∗ |
| EC | 37.385∗∗∗ | 97.458∗∗∗ | 21.272∗∗∗ | -2.439∗∗ | |
| CO2 | 73.730∗∗∗ | 100.251∗∗∗ | 142.153∗∗∗ | 212.565∗∗∗ | |
| Botswana | TFP | 72.635∗∗∗ | 64.543∗∗∗ | 57.466∗∗∗ | 51.976∗∗∗ |
| EC | -34.616∗∗∗ | -15.230∗∗∗ | -8.931∗∗∗ | -5.979∗∗∗ | |
| CO2 | 32.861∗∗∗ | 37.513∗∗∗ | 43.577∗∗∗ | 52.269∗∗∗ | |
| Cote d'Ivoire | TFP | 50.947∗∗∗ | 47.557∗∗∗ | 44.559∗∗∗ | 42.429∗∗∗ |
| EC | 70.120∗∗∗ | 29.607∗∗∗ | 78.313∗∗∗ | -7.001∗∗∗ | |
| CO2 | 43.164∗∗∗ | 42.660∗∗∗ | 42.438∗∗∗ | 43.207∗∗∗ | |
| Cameroon | TFP | 26.120∗∗∗ | 24.701∗∗∗ | 23.437∗∗∗ | 22.621∗∗∗ |
| EC | 70.028∗∗∗ | 608.729∗∗∗ | 136.876∗∗∗ | 873.091∗∗∗ | |
| CO2 | 29.476∗∗∗ | 36.741∗∗∗ | 48.229∗∗∗ | 65.861∗∗∗ | |
| Gabon | TFP | 42.861∗∗∗ | 42.926∗∗∗ | 43.218∗∗∗ | 44.522∗∗∗ |
| EC | -8.347∗∗∗ | -3.496∗∗∗ | -1.931∗ | -2.208∗∗ | |
| CO2 | 36.104∗∗∗ | 39.184∗∗∗ | 43.151∗∗∗ | 48.984∗∗∗ | |
| Kenya | TFP | 56.035∗∗∗ | 50.768∗∗∗ | 46.221∗∗∗ | 42.764∗∗∗ |
| EC | 304.960∗∗∗ | 597.422∗∗∗ | 549.832∗∗∗ | 845.015∗∗∗ | |
| CO2 | 41.477∗∗∗ | 38.033∗∗∗ | 34.951∗∗∗ | 32.675∗∗∗ | |
| Morocco | TFP | 69.809∗∗∗ | 75.922∗∗∗ | 83.621∗∗∗ | 94.594∗∗∗ |
| EC | 387.109∗∗∗ | 997.038∗∗∗ | 289.466∗∗∗ | 380.630∗∗∗ | |
| CO2 | 61.245∗∗∗ | 68.334∗∗∗ | 77.577∗∗∗ | 90.687∗∗∗ | |
| Egypt | TFP | 48.446∗∗∗ | 44.203∗∗∗ | 43.090∗∗∗ | 41.337∗∗∗ |
| EC | -7.716∗∗∗ | -3.787∗∗∗ | -2.487∗∗ | -1.847∗ | |
| CO2 | 56.894∗∗∗ | 66.646∗∗∗ | 79.719∗∗∗ | 98.894∗∗∗ | |
| Mozambique | TFP | 48.039∗∗∗ | 44.246∗∗∗ | 40.836∗∗∗ | 38.331∗∗∗ |
| EC | 175.484∗∗∗ | 702.179∗∗∗ | 383.206∗∗∗ | 103.943∗∗∗ | |
| CO2 | 54.852∗∗∗ | 69.506∗∗∗ | 90.856∗∗∗ | 124.011∗∗∗ | |
| Nigeria | TFP | 119.84∗∗∗ | 180.093∗∗∗ | 287.304∗∗∗ | 490.295∗∗∗ |
| EC | 478.849∗∗∗ | 136.883∗∗∗ | 684.882∗∗∗ | 390.415∗∗∗ | |
| CO2 | 39,864∗∗∗ | 42,099∗∗∗ | 44,945∗∗∗ | 49,280∗∗∗ | |
| Senegal | TFP | 36.220∗∗∗ | 35.793∗∗∗ | 35.555∗∗∗ | 35.987∗∗∗ |
| EC | 138.125∗∗∗ | 577.261∗∗∗ | 656.311∗∗∗ | 454.631∗∗∗ | |
| CO2 | 47.974∗∗∗ | 43.841∗∗∗ | 40.155∗∗∗ | 37.373∗∗∗ | |
| Togo | TFP | 42.674∗∗∗ | 42.701∗∗∗ | 43.024∗∗∗ | 44.358∗∗∗ |
| EC | 172.331∗∗∗ | 957.638∗∗∗ | 129.030∗∗∗ | 234.447∗∗∗ | |
| CO2 | 23.451∗∗∗ | 22.674∗∗∗ | 22.008∗∗∗ | 21.732∗∗∗ | |
| Tunisia | TFP | 40.407∗∗∗ | 37.010∗∗∗ | 33.973∗∗∗ | 31.764∗∗∗ |
| EC | 74.685∗∗∗ | 178.063∗∗∗ | 519.482∗∗∗ | 166.366∗∗∗ | |
| CO2 | 32.066∗∗∗ | 33.037∗∗∗ | 34.341∗∗∗ | 36.512∗∗∗ | |
| Tanzania | TFP | 40.859∗∗∗ | 39.566∗∗∗ | 38.504∗∗∗ | 38.192∗∗∗ |
| EC | 189.916∗∗∗ | 281.170∗∗∗ | 60.495∗∗∗ | 35.189∗∗∗ | |
| CO2 | 37.087∗∗∗ | 36.744∗∗∗ | 36.636∗∗∗ | 37.297∗∗∗ | |
| South Africa | TFP | 51.160∗∗∗ | 49.943∗∗∗ | 45.730∗∗∗ | 41.730∗∗∗ |
| EC | 135.097∗∗∗ | -8.787∗∗∗ | -5.462∗∗∗ | -3.879∗∗∗ | |
| CO2 | 460.986∗∗∗ | 765.295∗∗∗ | 369.096∗∗∗ | 674.364∗∗∗ | |
| Zimbabwe | TFP | 70.514∗∗∗ | 81.836∗∗∗ | 96.927∗∗∗ | 118.723∗∗∗ |
| EC | 171.533∗∗∗ | -9.290∗∗∗ | -5.762∗∗∗ | -4.084∗∗∗ | |
| CO2 | 43.438∗∗∗ | 45.774∗∗∗ | 48.757∗∗∗ | 53.314∗∗∗ | |
Note: ∗∗∗, ∗∗ and ∗ denote significant at 1%. 5% and 10% level.