Series

ADF Test Value

Critical Value

Outcome

1%

5%

10%

lnPP

−1.935843

−4.262735

−3.552973

−3.209642

Non stationary

∆lnPP

−5.481082***

−4.273277

−3.557759

−3.212361

Stationary

lnGDP

−2.883426

−4.273277

−3.557759

−3.212361

Non stationary

∆lnGDP

−3.773876**

−4.273277

−3.557759

−3.212361

Stationary

lnFDI

−1.550299

−3.646342

−2.954021

−2.615817

Non stationary

∆lnFDI

−3.304325**

−3.699871

−2.976263

−2.627420

Stationary

lnDI

−2.975691

−4.296729

−3.568379

−3.218382

Non stationary

∆lnDI

−4.983489***

−4.273277

−3.557759

−3.212361

Stationary

lnL

1.058008

−4.356068

−3.595026

−3.233456

Non stationary

∆lnL

−5.261270***

−4.356068

−3.595026

−3.233456

Stationary