Table 4 Pesaran cross-sectional dependence test (2004) for variables in logarithms and in first differences.

From: Modeling the link between tourism and economic development: evidence from homogeneous panels of countries

Variables

All countries

Group A

Group B

Group C

l.TIR

265.36***

72.54***

63.92***

95.46***

l.HDI

409.82***

122.22***

97.57***

140.41***

d.l.TIR

28.58***

12.35***

10.08***

7.22***

d.l.HDI

41.36***

29.80***

13.51***

6.55***

Obs.

123

36

29

43

  1. ***: the null hypothesis is rejected at 1%.
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