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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