Variable

Include in test equation

Levin, Lin & Chu t

Prob.

ADF-Fisher Chi-square

Prob.

PP-Fisher Chi-square

Prob.

EC

I & T

−2.60573

0.0046

39.5307

0.9810

23.1386

1.0000

I

−7.09255

0.0000

78.5148

0.0546

142.752

0.0000

N

11.8771

1.0000

10.4238

1.0000

1.79826

1.0000

UR

I & T

−2.63502

0.0042

57.2499

0.5769

78.7175

0.0529

I

2.18872

0.9857

20.1766

1.0000

30.9460

0.9993

N

21.5072

1.0000

2.98066

1.0000

1.76700

1.0000

PCGDP

I & T

−3.57767

0.0002

53.9494

0.6952

81.2655

0.0352

I

5.14803

1.0000

13.8360

1.0000

6.50901

1.0000

N

13.0678

1.0000

22.2088

1.0000

0.53173

1.0000

LI

I & T

−3.55884

0.0002

46.2384

0.9041

55.6442

0.9023

I

2.29149

0.9890

27.8631

0.9999

30.0976

0.9996

N

−7.69265

0.0000

120.104

0.0000

122.932

0.0000

UPD

I & T

−18.2379

0.0000

214.941

0.0000

329.266

0.0000

I

13.9935

1.0000

21.114

1.0000

36.696

1.0000

N

0.45457

0.6753

49.8334

0.8224

28.3676

0.9998

PTI

I & T

0.76816

0.7788

21.2371

1.0000

34.7423

0.9963

I

6.11746

1.0000

22.3497

1.0000

14.4401

1.0000

N

14.9036

1.0000

5.93457

1.0000

6.53393

1.0000

PCBE

I & T

−4.89927

0.0000

70.0775

0.3358

85.9354

0.0157

I

10.4408

1.0000

2.78305

1.0000

2.00182

1.0000

N

17.1322

1.0000

4.52765

1.0000

0.31215

1.0000

I & T

23.1644

1.0000

26.783

1.0000

32.714

1.0000

EL

I

6.11746

1.0000

22.3497

1.0000

14.4401

1.0000

N

−5.48900

0.0000

84.6593

0.0197

121.962

0.0000