Panel Unit root tests (Unbalanced set)―first differences

Variable

Tests

LLC

Breitung-t

IPS-W

ADF

PP

Stat

Prob

Stat

Prob

Stat

Prob

Stat

Prob

Stat

Prob

limp_f

Individual

effects

−9.66^***

0.00

−9.37^***

0.00

156.00^***

(chi-square)

0.00

543.70^***

(chi-square)

0.00

Individual

linear trend

−8.58^***

0.00

−7.76^***

0.00

−6.38^***

0.00

111.75^***

(chi-square)

0.00

240.71^***

(chi-square)

0.00

lgdpcap

Individual

effects

1.26

0.90

4.56

1.00

7.73

(chi-square)

1.00

10.36

(chi-square)

1.00

Individual

linear trend

−1.94^**

0.03

−2.12^**

0.02

−1.32^*

0.09

43.42

(chi-square)

0.25

21.57

(chi-square)

0.99

linv

Individual

effects

−4.22^***

0.00

−5.49^***

0.00

97.77^***

(chi-square)

0.00

191.34^***

(chi-square)

0.00

Individual

linear trend

−3.25^***

0.00

−0.54

0.29

−2.93^***

0.00

69.37^***

(chi-square)

0.00

167.54^***

(chi-square)

0.00

ltcer

Individual

effects

−8.57^***

0.00

−6.33^***

0.00

106.87^***

(chi-square)

0.00

197.29^***

(chi-square)

0.00

Individual

linear trend

−8.36^***

0.00

−8.61^***

0.00

−5.09^***

0.00

88.56^***

(chi-square)

0.00

182.35^***

(chi-square)

0.00

lurbpop

Individual

effects

0.68

0.75

0.74

0.77

32.79

(chi-square)

0.71

100.05

(chi-square)

0.00

Individual

linear trend

2.38

0.99

5.92

1.00

0.82

0.79

40.04

(chi-square)

0.38

115.69^***

(chi-square)

0.00