Variables | ADF p-value | KPSS test statistic | KPSS 5% Asymptotic critical values | Stationarity |
US | 0.9287 | 3.800 | 0.4630 | Non-stationary |
UK | 0.7479 | 4.0107 | 0.4630 | Non-stationary |
HK | 0.4047 | 2.2054 | 0.4630 | Non-stationary |
JAPAN | 0.8417 | 1.5947 | 0.4630 | Non-stationary |
dUS | 0.0001 | 0.2737 | 0.4630 | Stationary |
dUK | 0.0001 | 0.1230 | 0.4630 | Stationary |
dHK | 0.0001 | 0.0568 | 0.4630 | Stationary |
dJAPAN | 0.0001 | 0.3470 | 0.4630 | Stationary |