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Future Business Journal

Table 5 Cross-sectional dependence

From: Assessing the determinants of government spending efficiency in Africa

Variable

CD-test

p-value

Corr

Abs(corr)

GOV

6.880

0.000

0.054

0.422

GDP

110.530

0.000

0.864

0.864

RENT

33.620

0.000

0.263

0.377

COR

0.870

0.384

0.007

0.332

EFFE

5.810

0.000

0.045

0.391

EFF

104.040

0.000

0.813

0.813

  1. Under the null hypothesis of cross-section
  2. Independence CD ~ N(0,1)
  3. GOV government spending, GDP size of an economy, RENT resources rent, COR control of corruption, EFFE government effectiveness, EFF efficiency
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