Table 5 Results of the diagnostic tests.
Determinant | Spatial fixed effects | Time-period fixed effects | Spatial and time-period fixed effects |
---|---|---|---|
Wald test spatial lag | 61.043*** | 61.844*** | 58.834*** |
LR test spatial lag | 60.846*** | 57.534*** | 54.103*** |
Wald test spatial error | 34.410*** | 72.818*** | 49.453*** |
LR test spatial error | 36.355*** | 61.710*** | 45.765*** |