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Table 1.

Descriptions of the variables and sources of the data.

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Table 2.

Cross-sectional dependence and slope homogeneity tests.

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Table 3.

CIPS unit root test.

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Table 4.

Westerlund co-integration test.

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Table 5.

AMG estimator.

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Table 6.

Pairwise dumitrescu-hurlin panel causality test.

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