Variables

LLC test

IPS test

P-value at level

P-value at first difference

P-value at level

P-value at first difference

Stationary tests on variables that belong to the model of former French countries

GDP

0.0090

-

0.0021

-

DEBT

0.0000

-

0.1080

0.0640

FDI

0.0233

-

0.0154

-

INV

0.9856

0.0000

0.8073

0.0000

TRADE

0.5744

0.0000

0.2509

0.0000

THE

0.6056

0.0000

0.5715

0.0000

SDEBT

0.0000

-

0.0002

-

Stationary tests on variables that belong to the model of former British countries

GDP

0.0140

-

0.0000

-

DEBT

0.0004

-

0.3730

0.0002

FDI

0.0740

-

0.0382

-

INV

0.884

0.000

0.5971

0.0000

TRADE

0.0757

-

0.5761

0.0000

THE

0.7872

0.0000

0.0679

-

SDEBT

0.0004

-

0.4414

0.000