This function implements the procedure for testing for the presence of crosscorrelation among panel units using the test proposed in Pesaran (2004).
1  Pesaran(resids)

resids 
a T \times N matrix of residuals from N singleequation models over N time series of length T. 
This function should be applied to residuals from individual tests regressions.
The function returns a list of class "htest"
containing:
statistic 
the test statistic. 
parameter 
the number N of time series and their length T. 
p.value 
the pvalue of the test. 
null.value 
the specified hypothesized value under the null. 
alternative 
a character string describing the alternative hypothesis. 
method 
a character string indicating the type of test. 
data.name 
a character string giving the name of the vector of residuals. 
Claudio Lupi
Pesaran, MH (2004). General Diagnostic Tests for Cross Section Dependence in Panels, Department of Applied Economics, University of Cambridge, mimeo.
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