|
|
Level |
|||||||||
| TB |
M2* |
REXRAT |
GDP |
FDI* |
INFL |
HCEX* |
CA* |
|||
| Harris-Tsavalis |
T-stat |
0.65 |
|
0.88 |
−0.11 |
|
0.46 |
|
0.61 |
|
| p-value |
0.000 |
|
0.198 |
0.000 |
|
0.000 |
|
0.000 |
||
| Levin, Lin, Chu |
T-stat |
−7.80 |
|
−4.36 |
−10.60 |
|
−9.87 |
|
−6.94 |
|
| p-value |
0.000 |
|
0.057 |
0.000 |
|
0.000 |
|
0.005 |
||
| Im-Pesaran-Shin |
T-stat |
−2.44 |
−1.31 |
−1.80 |
−6.03 |
−2.32 |
−4.43 |
−2.54 |
−2.67 |
|
| p-value |
0.005 |
0.863 |
0.151 |
0.000 |
0.018 |
0.000 |
0.000 |
0.000 |
||
| Fisher-type |
T-stat |
45.91 |
24.70 |
16.56 |
264.75 |
47.71 |
135.10 |
38.17 |
49.68 |
|
| p-value |
0.000 |
0.075 |
0.414 |
0.000 |
0.000 |
0.000 |
0.001 |
0.000 |
||
| Harris-Tsavalis |
First difference |
|||||||||
| p-value |
−0.15 |
|
0.1383 |
−0.5687 |
|
−0.5054 |
|
−0.17 |
||
| T-stat |
0.000 |
|
0.000 |
0.000 |
|
0.000 |
|
0.000 |
||
| Levin, Lin, Chu |
p-value |
−18.27 |
|
−10.6864 |
−20.39 |
|
−17.97 |
|
−17.51 |
|
| T-stat |
0.000 |
|
0.000 |
0.000 |
|
0.000 |
|
0.000 |
||
| Im-Pesaran-Shin |
T-stat |
−6.78 |
−5.57 |
−4.6393 |
−10.70 |
-6.95 |
−8.18 |
−6.65 |
−7.35 |
|
| p-value |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
||
| Fisher-type |
T-stat |
315.83 |
222.1 |
149.49 |
531.69 |
329.6 |
433.17 |
308.43 |
367.6 |
|
| p-value |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
||