Convergence in TFP among Italian Regions - Panel Unit Roots with Heterogeneity and Cross Sectional Dependence

Table 2: Panel Unit Root Tests of TFP - ln(yit)

All Regions (N=19)

Test Statistic P-value Conclusion

LLC	-5.69	0.0804	No Convergence
IPS	-1.62	0.3140	No Convergence
MADF	258.98	26.38	Convergence

South (N=7)

Basilicata, Calabria, Campania, Molise, Puglia, Sardegna, Sicilia

Test Statistic P-value Conclusion

LLC	-4.56	0.0888	No Convergence
IPS	-1.88	0.1430	No Convergence
MADF	29.26	26.38	Convergence

Centre-North (N=12)

Emilia Romagna, Friuli V.G., Liguria, Lombardia, Piemonte
Trentino A.A., Veneto, Lazio, Marche, Toscana, Umbria, Abruzzo

Test Statistic P-value Conclusion

LLC	-4.38	0.0264	Convergence
IPS	-1.56	0.4430	No Convergence
MADF	89.36	26.38	Convergence

Centre (N=5)

Lazio, Marche, Umbria, Toscana, Abruzzo
Test	Statistic	P-value____	Conclusion
LLC	-2.78	0.0627	No Convergence
IPS	-1.63	0.3940	No Convergence
MADF	28.63	26.38	Convergence

North (N=7)

Friuli V.G., Liguria, Lombardia, Piemonte, Trentino A.A.
Veneto, Emilia Romagna

Test

Statistic P-value Conclusion

LLC
IPS
MADF

-3.88 0.0204 Convergence

-1.69 0.3130 No Convergence

24.79_____26.38____________No Convergence_________

For MADF, the critical value is reported instead of the p-value

22

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