Levels

First Difference, ∆

Optimal

Constant

Constant and Trend

Constant

Constant and Trend

Lag = 1

Ln(Agr)

−1.297

−1.668

−5.192

−5.196

Ln(FDI)

−1.729

−1.800

−4.926

−5.941

Ln(Growth)

−1.932

−3.041

−5.124

−4.942

Ln(GFCF)

−0.759

−1.703

−4.120

−4.300

−2.129

−3.408

−5.743

−5.002

Ln(pGDP)

−0.043

−2.069

−4.758

−5.774

Ln(Labour)

−1.985

−2.043

−4.389

−5.899

Ln(RER)

−2.856

−2.755

−3.381

−3.704

Ln(Trade)

−1.752

−1.690

−2.979

−3.872

5 Percent

−2.986

−3.603

−2.992

−3.612