Variable | CADF | CIPS | Inference | ||
Overall Sample of EA. | |||||
Level | ∆Level | Level | ∆Level | ||
lnRGDP | −0.2284 | −5.2881*** | −0.2382 | −4.2888*** | I (1) |
lnHCD | −0.2842 | −5.2782*** | −0.2298 | −4.3002*** | I (1) |
lnID | −0.4953 | −4.8364*** | −0.5930 | 6.1391*** | I (1) |
lnICT | −0.5582 | −4.8960*** | −0.4573 | −5.3751*** | I (1) |
| Lower Middle-Income Countries (LMIC) |
| |||
lnRGDP | −0.1233 | −3.0821*** | −0.1528 | −4.4372*** | I (1) |
lnHCD | −0.1431 | −3.1120*** | −0.1657 | −4.6231*** | I (1) |
lnID | −0.1982 | −4.3001*** | −0.1901 | −4.8291*** | I (1) |
lnICT | −0.2183 | −4.6381*** | −0.2891 | −4.1922*** | I (1) |
| Low-Income Countries (LIC) |
| |||
lnRGDP | −0.1528 | −3.8171*** | −0.1028 | −3.9272*** | I (1) |
lnHCD | −0.1682 | −4.171*** | −0.1181 | −4.0721*** | I (1) |
lnID | −0.1220 | −3.9201*** | −0.2819 | 5.0291*** | I (1) |
lnICT | −0.1882 | −4.4891*** | −0.1928 | −4.4271*** | I (1) |