Table 4.
Cross-sectional dependence test
| Variables | Breusch-Pagan LM | Pesaran scaled LM | Pesaran CD | |
|---|---|---|---|---|
| Covid-19 cases | Raw values | 1728.8690*** | 176.4413*** | 25.6565*** |
| Logged values | 165.7510*** | 11.6741*** | 4.9356*** | |
| Covid-19 deaths | Raw values | 1448.2000*** | 146.8562*** | 21.3314*** |
| Logged values | 176.4184*** | 12.7986*** | 7.1736*** | |
| Air pressure | Raw values | 407.4721*** | 37.1538*** | 5.2383*** |
| Logged values | 186.0810*** | 13.8171*** | 4.6957*** | |
| Humidity | Raw values | 356.5339*** | 31.7844*** | 2.3924** |
| Logged values | 82.12862*** | 2.8596*** | 0.2379 | |
| PM2.5 | Raw values | 203.8496*** | 15.6901*** | -0.3173 |
| Logged values | 57.9755* | 0.3136 | 0.4543 | |
| Temperature | Raw values | 3477.7480*** | 360.7893*** | 4.1820*** |
| Logged values | 54.0055 | -0.1048 | −0.1804 | |
| Wind speed | Raw values | 103.0492*** | 5.0648*** | 2.9774*** |
| Logged values | 58.3650* | 0.3547*** | 1.2354 | |
Source: authors’ computation
*, **, and *** denote statistical significance at 10%, 5%, and 1% levels, respectively