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Results of cross-sectional dependence analysis.
| Variable | Statistics (p-values) |
|---|---|
| URB | 25.386*** |
| PPL | 43.986*** |
| PCI | 28.749*** |
| LPI | 31.489*** |
| LAB | 39.147*** |
| EG | 27.157*** |
| CPT | 29.045*** |
| CE | 34.489*** |
10, 5, and 1% of significance level is shown, respectively, by *, ** and ***.
