Table 4.

Cross-sectional dependence test results.

	Breusch–Pagan LM		Pesaran Scaled LM		Bias-Correlation Scaled LM		Pesaran CD
	Statistic	Prob.	Statistic	Prob.	Statistic	Prob.	Statistic	Prob.
Whole Sample
lnEFP	3229.072 *	0.000	108.625 *	0.000	108.144 *	0.000	2.631 *	0.009
lnREC	3427.181 *	0.000	116.103 *	0.000	115.621 *	0.000	40.727 *	0.000
lnNRR	1580.444 *	0.000	46.402 *	0.000	45.920 *	0.000	15.711 *	0.000
lnGDP	8503.098 *	0.000	307.681 *	0.000	307.199 *	0.000	91.274 *	0.000
lnGE	1308.296 *	0.000	36.131 *	0.000	35.420 *	0.000	−0.357	0.721
lnURB	9044.790 *	0.000	328.126 *	0.000	327.644 *	0.000	73.760 *	0.000
lnHC	8852.574 *	0.000	320.871 *	0.000	320.389 *	0.000	89.733 *	0.000
Countries with Ecological Deficits
lnEFP	1165.240 *	0.000	62.407 *	0.000	62.130 *	0.000	3.520 *	0.000
lnREC	1621.255 *	0.000	90.057 *	0.000	89.753 *	0.000	33.562 *	0.000
lnNRR	612.120 *	0.000	28.869 *	0.000	28.565 *	0.000	89.753 *	0.000
lnGDP	3572.471 *	0.000	208.367 *	0.000	208.063 *	0.000	59.569 *	0.000
lnGE	543.058 *	0.000	24.681 *	0.000	24.234 *	0.000	−1.859 ***	0.064
lnURB	3346.659 *	0.000	194.659 *	0.000	194.354 *	0.000	37.294 *	0.000
lnHC	3335.980 *	0.000	194.227 *	0.000	193.724 *	0.000	53.309 *	0.000
Countries with Ecological Reserves
lnEFP	414.850 *	0.000	38.981 *	0.000	38.803 *	0.000	−2.295 **	0.027
lnREC	324.498 *	0.000	29.462 *	0.000	29.283 *	0.000	7.021 *	0.000
lnNRR	200.510 *	0.000	16.392 *	0.000	16.214 *	0.000	8.014 *	0.000
lnGDP	925.850 *	0.000	92.849 *	0.000	92.671 *	0.000	29.714 *	0.000
lnGE	122.340 *	0.000	8.152 *	0.000	7.889 *	0.000	1.800 ***	0.071
lnURB	1252.409 *	0.000	127.272 *	0.000	127.093 *	0.000	32.393 *	0.000
lnHC	1186.611 *	0.000	120.336 *	0.000	120.158 *	0.000	34.393 *	0.000

Note *, **, *** represents 1%, 5%, and 10% level of significance, respectively.