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Table 4 Panel residual cointegration test results

From: The dynamic linkage between renewable energy, tourism, CO2 emissions, economic growth, foreign direct investment, and trade

  Statistic Prob. Weighted
Statistic Prob.
Alternative hypothesis: common AR coefs. (within-dimension)
 Panel v-stat − 4.873 0.00*** − 6.314 0.00***
 Panel rho-stat − 5.431 0.00*** − 7.809 0.00***
 Panel PP-stat − 9.623 0.00*** − 7.515 0.00***
 Panel ADF-stat − 6.815 0.00*** − 6.299 0.00***
Alternative hypothesis: individual AR coefs. (between-dimension)
 Group rho-stat − 7.211 0.00***   
 Group PP-stat − 16.109 0.00***   
 Group ADF-stat − 7.898 0.00***   
  1. Null hypothesis: no cointegration. “***” indicates statistical significance at the 1% level. We consider the case intercept and deterministic trend. Lag length selection is based on SIC with a max lag of 2. Newey–West automatic bandwidth selection and Bartlett Kernel