GCC

Returns

Prices

ADF

PP

KPSS*

lags

ADF

PP

KPSS*

lags

Bahrain

23.9287

(0.0000)

36.3923

(0.0000)

0.163642

3

−0.40241

(0.9064)

−0.1814

(0.9383)

3.38354

7

Dubai

35.5196

(0.0000)

36.5589

(0.0000)

0.127087

1

−1.2989

(0.6321)

−1.52308

(0.5218)

3.162082

2

Kuwait

33.5391

(0.0000)

33.8347

(0.0000)

0.073448

5

−0.40294

(0.9063)

−0.55905

(0.8769)

3.433574

6

Qatar

37.5455

(0.0000)

37.7328

(0.0000)

0.086213

1

−0.8174

0.8135

−1.10685

(0.7152)

2.586876

2

Saudi Arabia

34.7529

(0.0000)

35.0339

(0.0000)

0.085712

5

−0.43677

(0.9004)

−0.50296

(0.8882)

3.124048

2

Oman

−30.58239

(0.0000)

−30.60818

(0.0000)

0.149798

1

−1.027663

(0.7453)

−1.056701 (0.7453)

4.434236

2