Table 2 Pesaran’s CD-test Variables... | Emerald Publishing

Table 2

Pesaran’s CD-test

Variables	CD-test	Mean ρ	Mean abs(ρ)
lngdpp	10.6390^*	0.4600	0.7900
lnagric	7.9130^*	0.3400	0.7500
lnind	9.8450^*	0.4200	0.6900
lnserv	18.5860^*	0.800	0.8000
intr	−0.4490	−0.0200	0.0800
lninfl	13.3820^*	0.5700	0.5700
exr	20.2300^*	0.8700	0.8700
lnms	5.4490^*	0.2300	0.4700
msgr	1.8670	0.0800	0.3800
lncapital	8.2530^*	0.3500	0.4800
lnlabour	23.3600^*	1.000	1.0000
lnintrms	1.4220	0.0600	0.5100
exrms	15.0630^*	0.6400	0.6700
exrintr	12.0100^*	0.5100	0.7000
inflintr	5.4140^*	0.2300	0.5400

Variables	CD-test	Mean ρ	Mean abs(ρ)
lngdpp	10.6390^*	0.4600	0.7900
lnagric	7.9130^*	0.3400	0.7500
lnind	9.8450^*	0.4200	0.6900
lnserv	18.5860^*	0.800	0.8000
intr	−0.4490	−0.0200	0.0800
lninfl	13.3820^*	0.5700	0.5700
exr	20.2300^*	0.8700	0.8700
lnms	5.4490^*	0.2300	0.4700
msgr	1.8670	0.0800	0.3800
lncapital	8.2530^*	0.3500	0.4800
lnlabour	23.3600^*	1.000	1.0000
lnintrms	1.4220	0.0600	0.5100
exrms	15.0630^*	0.6400	0.6700
exrintr	12.0100^*	0.5100	0.7000
inflintr	5.4140^*	0.2300	0.5400

Note(s): ^* significant at 1%

Source(s): Authors