Variables | LLC | IPS | ADF | PP | ||||
Level | First. Diff | Level | First. diff | Level | First. diff | Level | First. diff | |
lnGDPC | −0.157 (0.437) | −6.284*** (0.000) | 2.984 (0.998) | −8.165*** (0.000) | 8.454 (0.934) | 96.331*** (0.000) | 5.663 (0.991) | 120.605*** (0.000) |
lnMS | 2.267 (0.988) | −14.768*** (0.000) | 2.380 (0.991) | −13.535*** (0.000) | 11.531 (0.775) | 148.124*** (0.000) | 13.287 (0.651) | 154.614*** (0.000) |
RIR | −4.153*** (0.000) | −8.882*** (0.000) | −2.774*** (0.002) | −6.367*** (0.000) | 32.593*** (0.008) | 65.329*** (0.000) | 40.135*** (0.000) | 102.904*** (0.000) |
lnDCP | 0.783 (0.783) | −8.638*** (0.000) | 1.524 (0.936) | −9.728*** (0.000) | 7.991 (0.0.949) | 112.044*** (0.000) | 7.452 (0.963) | 131.292*** (0.000) |
lnOER | −8.945*** (0.000) | −3.437*** (0.000) | −8.755*** (0.000) | −3.420*** (0.000) | 101.555*** (0.000) | 37.276*** (0.001) | 29.510*** (0.000) | 122.652*** (0.000) |
lnGFCF | −0.912 (0.180) | −13.507*** (0.000) | −1.457* (0.072) | −14.035*** (0.000) | 25.529* (0.061) | 161.300*** (0.000) | 19.108 (0.263) | 172.164*** (0.000) |