| Statistic | p-value |
Cross-sectional dependence test | ||
Breusch-Pagan LM | 152.952* | 0.000 |
Pesaran CD | 0.418 | 0.675 |
Pesaran scaled LM | 13.783* | 0.000 |
Homogeneity test | ||
Delta | 194.302* | 0.000 |
Delta adjusted | 206.876* | 0.000 |
Swamy test | 403.72* | 0.000 |