Variables

Test statistics

Critical value

Order of Integration

1%

5%

10%

RGDP

−6.493484

−3.632900

−2.948404

−2.612874

I(1)***

ESR

−5.943360

−3.632900

−2.948404

−2.612874

I(1)***

FSR

−4.396111

−3.632900

−2.948404

−2.612874

I(1)**

ICTSR

−4.093285

−3.626784

−2.945842

−2.611531

I(0)**