Table 5.

Cross-sectional dependence test results

	Breusch-Pagan LM	Pesaran scaled LM	Bias-corrected scaled LM	Pesaran CD
lnEP	164.181***	22.093***	21.909***	9.791***
lnENVTAX	31.487***	4.805***	4.680***	3.758***
lnREN	155.805***	20.801***	20.617***	8.367***
lnACT	295.070***	42.290***	42.115***	6.513***
lnPOP	161.425***	21.668***	21.493***	5.758***
lnUR	203.112***	28.101***	27.926***	5.552***

^***, **, and * denote the significance at 1%, 5%, and 10% level, respectively