Table 4 Panel cointegration test results.

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

Westerlund (2007)

Value

P value

Gt

−2.282***

0.000

Ga

−1.564

0.999

Pt

−7.074***

0.000

Pa

−1.495

0.999

Test Westerlund and Edgerton (2008)

\({\bf{L}}{{\bf{M}}}_{{\boldsymbol{\tau }}}\)

−11.950***

0.000

\({\bf{L}}{{\bf{M}}}_{\varphi }\)

−13.230***

0.000

  1. Source: Author’s computation.
  2. Note: ***p < 0.01.
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