Does infrastructure increase exports and reduce trade deficit? Evidence from selected South Asian countries using a new Global Infrastructure Index

Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 2 Unit root test results

	Level		First difference
	Levin Lin Chu test	IM Pesaran test	Levin Lin Chu test	IM Pesaran test
Export	0.941	− 0.118	− 3.403***	− 3.029***
Trade deficit	− 1.185**	− 0.802	− 4.249***	− 4.688***
Human capital	1.089***	0.456***	− 4.638***	− 4.478***
Exchange rate	0.070	0.534	− 4.402***	− 3.762***
Per capita GDP	0.454	0.761	− 4.139***	− 3.211***
Institutional quality	− 5.636***	− 4.804	− 3.226***	− 3.143***
Transport infrastructure	− 2.668***	− 2.377***	− 7.752***	− 8.063***
Telecommunication infrastructure	− 1.801***	− 2.286**	− 4.253***	− 6.180***
Energy infrastructure	− 1.274***	− 2.761***	− 4.585***	− 4.604***
Financial infrastructure	0.176***	− 1.593*	− 2.049***	− 4.661***
Aggregate infrastructure	− 2.142***	− 2.328***	− 6.001***	− 7.297***

****, ** and * denote the significance at 1%, 5%, and 10%, respectively. All variables are in natural log form. The results are based on intercept and trend