Table 4 Cross-sectional dependency.
Tests | EF | FinTech | FDI | GTE | IND | LGDP |
---|---|---|---|---|---|---|
Breusch-pagan LM | 125.0492*** | 96.81575*** | 71.24431*** | 249.9102*** | 133.3224*** | 390.4358*** |
Pesaran scaled LM | 20.09215*** | 14.93744*** | 10.26876*** | 42.88853*** | 21.60261*** | 68.54488*** |
Bias-corrected scaled LM | 19.99538*** | 14.84067*** | 10.17198*** | 42.79176*** | 21.50584*** | 68.4481*** |
Pesaran CD | 6.559374*** | 7.582359*** | 5.232501*** | 14.58295*** | 6.354542*** | 19.74417*** |