Table 8.

Panel unit root—Results (Im-Pesaran-Shin)

Variables	Statistics (P-value)
${Trade\_Connectivity}_{\mathit{it}}$	− 4.541 (0.00)*
${\mathit{TC}}_{\mathit{ijt}}$	− 6.823 (0.00)*
${Ship\_connectivity}_{\mathit{it}}$	− 4.3172 (0.00)*
${\mathit{Power}}_{\mathit{it}}$	− 2.887 (0.00)*
${Transport\_Air}_{\mathit{it}}$	− 3.413 (0.00)*
${\mathit{Infra}}_{\mathit{it}}$	− 5.29 (0.00)*
${\mathit{GDPPC}}_{\mathit{it}}$	− 6.75 (0.00)*

* and ** indicate significance levels at 1% and 5%, respectively