Table 5 Pedroni residual cointegration...

Table 5

Pedroni residual cointegration test

	Statistic	Prob	W. statistic	Prob
Panel v-statistic	0.231	0.397	−1.783	0.963
Panel Rho-statistic	3.240	0.999	3.395	0.999
Panel PP-statistic	−2.943	0.001	−4.144	0.000
Panel ADF-statistic	−1.661	0.0048	−2.725	0.003
Panel Rho-statistic	4.725	1.000
Panel ADF-statistic	−4.931	0.000
Panel PP-statistic	−3.061	0.001

	Statistic	Prob	W. statistic	Prob
Panel v-statistic	0.231	0.397	−1.783	0.963
Panel Rho-statistic	3.240	0.999	3.395	0.999
Panel PP-statistic	−2.943	0.001	−4.144	0.000
Panel ADF-statistic	−1.661	0.0048	−2.725	0.003
Panel Rho-statistic	4.725	1.000
Panel ADF-statistic	−4.931	0.000
Panel PP-statistic	−3.061	0.001

Note(s): The sample has 329 observations in West and South Asian countries from 2000 to 2020. Series: LnCo2, LnGDP, LnGDP-Square, TRADE, UR, IND, IP. Variable definitions are in Appendix A

Source(s): Authors’ calculations

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