| VARIABLES | CD-test | p-value | mean ρ | mean abs(ρ) |
| government_stability | 105.973 | 0.000 | 0.74 | 0.74 |
| external_conflict | 49.205 | 0.000 | 0.34 | 0.44 |
| religious_tensions | 2.682 | 0.007 | 0.02 | 0.27 |
| democratic_accountability | 13.81 | 0.000 | 0.10 | 0.41 |
| natural_resource | 20.128 | 0.000 | 0.14 | 0.32 |
| education | 39.506 | 0.000 | 0.27 | 0.58 |
| gdp_per_cap | 16.861 | 0.000 | 0.12 | 0.19 |