|
| Level | First Difference | Level of Significance | Order of Integration | ||
| t. Statistic | P. Value | t. Statistic | P. Value | |||
| RGDP | −1.046798 | 0.7226 | −5.149141 | 0.0003 | 5% | 1(1) |
| EXT | −0.378478 | 0.9003 | −4.387133 | 0.0018 | 5% | 1(1) |
| DDB | 3.495196 | 1.0000 | −3.673205 | 0.0104 | 5% | 1(1) |
| Critical Values | ||||||
|
| Level | First Difference |
|
| ||
| 1% | −3.679322 | −3.689194 |
|
| ||
| 5% | −2.967767 | −2.971853 |
|
| ||
| 10% | −2.622989 | −2.625121 |
|
| ||