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 |