CARIFORUM and UK EPA Study

Dependent Variable: LOG(AVGTRD) Method: Panel Least Squares Date: 10/17/21 Time: 09:08 Sample: 2008 2018 Periods included: 11 Cross-sections included: 14 Total panel (balanced) observations: 154

Variable

Coefficient

Std. Error

t-Statistic Prob.

LOG(EXR)

0.033955 0.057072 0.594953 0.5528 0.001842 0.000985 1.869973 0.0635 0.002369 0.001269 1.866135 0.0640 -0.020443 0.012409 -1.647445 0.1016 0.004363 0.001661 2.626965 0.0095 -0.002170 0.015268 -0.142145 0.8872 0.003409 0.003098 1.100410 0.2730 1.061701 0.015232 69.70151 0.0000 3.906193 0.088310 44.23263 0.0000

GDPG

HK

INFL

INT

LOG(K)

LFG

LOG(OP)

C

R-squared

0.975239 Mean dependent var 0.973873 S.D. dependent var 0.035763 Akaike info criterion 0.185454 Schwarz criterion 299.0700 Hannan-Quinn criter. 713.8760 Durbin-Watson stat

3.822518 0.221253 -3.767143 -3.589659 -3.695049 0.311971

Adjusted R-squared S.E. of regression Sum squared resid

Log likelihood

F-statistic

Prob(F-statistic)

0.000000

Residual Cross-Section Dependence Test Null hypothesis: No cross-section dependence (correlation) in residuals Equation: Untitled Periods included: 11 Cross-sections included: 14 Total panel observations: 154 Note: non-zero cross-section means detected in data Cross-section means were removed during computation of correlations

Test

Statistic

d.f.

Prob.

Breusch-Pagan LM Pesaran scaled LM

204.8812 8.441437 6.857144

91 0.0000

0.0000 0.0000

Pesaran CD

The unweighted ordinary (Pearson product moment) covariance for the data in each cross-sectional unit has been estimated and reported in Table XX. The index uses 8 components to determine overall productive capacity—human capital, natural capital, energy, transportation, information

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