Table 2.

Cross-sectional dependence tests

	Variables
	TCO2	EC	GDPPC	PAT	TM	TRADE	URBAN	FD
	Developing countries
CD stat.	−2.485	−1.886	−1.163	−2.364	−1.425	−2.138	−1.304	−2.092
Prob.	0.006	0.030	0.122	0.009	0.077	0.016	0.096	0.018
LMadj stat.	3.647	3.206	4.066	12.741	−0.124	0.294	27.471	0.550
Prob.	0.000	0.001	0.000	0.000	0.549	0.384	0.000	0.291
	Developed countries
CD stat.	−1.656	−1.444	1.044	−1.636	−1.367	−1.834	−1.026	−0.630
Prob.	0.049	0.074	0.148	0.051	0.086	0.033	0.152	0.264
LMadj stat.	0.931	1.497	3.142	1.243	0.629	1.823	1.354	5.511
Prob.	0.176	0.067	0.001	0.107	0.265	0.034	0.088	0.000