Table 2 C-D and S-H tests.
Tests | Values | Prob |
---|---|---|
Pesaran- CD | 2.4407* | 0.0001 |
Pesaran- LM | 62.3408* | 0.0003 |
B-Pagan LM | 1425.777* | 0.0001 |
S-H | Stat | Prob |
\(\:\varvec{\Delta\:}\) | 9.637* | 0.0001 |
\(\:{\stackrel{\sim}{\varvec{\Delta\:}}}_{\varvec{a}\varvec{j}\varvec{d}}\) | 13.007* | 0.0000 |