Table 2 CD test results.

From: Analyzing the impact of financial development, human capital and industrial structure on ecological footprints: a PMG-ARDL approach

Variables

Test stat.

P value

Pesaran CD test

LnEF

44.7583***

0.0000

LnFD

24.9118***

0.0000

LnHC

43.1592***

0.0000

LnREC

74.7398***

0.0000

LnIS

70.2868***

0.0000

LnGDP

43.1335***

0.0000

LnGDP2

13.9566***

0.0000

Scaled LM test

LnEF

23.145***

0.000

LnFD

24.109***

0.000

LnHC

51.123***

0.000

LnREC

98.219***

0.000

LnIS

89.320***

0.000

LnGDP

51.120***

0.000

LnGDP2

20.911***

0.000

Bias-corrected LM test

LnEF

143.809***

0.000

LnFD

211.213***

0.000

LnHC

105.240***

0.000

LnREC

101.239***

0.000

LnIS

143.390***

0.000

LnGDP

134.230***

0.000

LnGDP2

144.450***

0.000

  1. Source: Author’s computation.
  2. Note: ***represents the level of significance at 1%.
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