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Results of Cross-sectional dependence
| Variables | CD-test | p-value |
|---|---|---|
| lnPHCE | 55.4 | 0.000*** |
| lnOOP | 51.14 | 0.000*** |
| lnPOP | 54.71 | 0.000*** |
| lnAGRIC | 56.9 | 0.000*** |
| lnIND | 54.84 | 0.000*** |
| lnGDP | 57.4 | 0.000*** |
| lnTEC | 53.1 | 0.000*** |
***Statistically significant at 1% level of significance
