Augmented Dickey-Fuller (ADF) Test | Philips-Perron (PP) Test | |||||
Variable | Level | 1st Difference | Status | Level | 1st Difference | Status |
logfdit | −1.019524 (0.7301) | −2.506344 (0.3224) |
| −1.433259 (0.5517) | −12.35701*** (0.0000) | I(1) |
logmsz | 0.594886 (0.9870) | −5.235247*** (0.0013) | I(1) | 0.538953 (0.9851) | −5.217091*** (0.0013) | I(1) |
fex | −3.733436*** (0.0090) |
| I(0) | −3.833681*** (0.0071) |
| I(0) |
dinfra | −3.383578** (0.0207) |
| I(0) | −3.383578** (0.0207) |
| I(0) |
infl | −2.510853 (0.1237) | −3.435291* (0.0712) | I(1) | −2.598355 (0.1052) | −5.767097 (0.0004) | I(1) |
rintr | −5.308931*** (0.0002) |
| I(0) | −5.308896*** (0.0002) |
| I(0) |
opn | −3.243412** (0.0279) |
| I(0) | −3.154872** (0.0338) |
| I(0) |
gexp | −3.373271** (0.0208) |
| I(0) | −3.426223** (0.0185) |
| I(0) |