The Spatial Economic Effect of Industrial Credit Misallocation in China

Table 2

LM test of spatial autocorrelation for cross-sectional mean equation.

Spatial weight matrix	Spatial error test		Spatial lag test
	LM	Robust LM	LM	Robust LM
W1	26.011^∗∗∗ (0.000)	21.668^∗∗∗ (0.000)	14.908^∗∗∗ (0.000)	10.564^∗∗∗ (0.001)
W2	8.956^∗∗∗ (0.000)	6.175^∗∗ (0.013)	12.003^∗∗∗ (0.001)	9.222^∗∗∗ (0.002)

Note: ^∗∗∗, ^∗∗, and ^∗ denote statistical significance levels at 1%, 5%, and 10%, respectively. And the adjoint probability is shown in brackets (similarly, hereinafter).