Table 4 Cross-section dependency test.

From: How do financial development and institutional quality influence greenhouse gases in the Next-11 economies?

 

Model 1

Model 2

Model 3

Test

Statistic

d.f.

Prob.

Statistic

d.f.

Prob.

Statistic

d.f.

Prob.

Breusch-Pagan LM

258.6048***

55

0.000

870.094***

55

0.000

800.8668***

55

0.000

Pesaran scaled LM

19.41296***

 

0.000

77.71617***

 

0.000

71.11561***

 

0.000

Pesaran CD

5.199789***

 

0.000

27.56391***

 

0.000

19.60967***

 

0.000

  1. Null hypothesis: no cross-section dependence in residuals.
  2. ***denoted significance level at 1%.
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