| Variables | At Level | At First Difference | |||||
| No Intercept, No Trend | Intercept, No Trend | Intercept, Trend | No Intercept, No Trend | Intercept, No Trend | Intercept, Trend | Remarks | |
| CG | 1.78230 | −0.15063 | −2.74350 | −2.72500 | −3.58030 | −3.51040 | I(1) |
| EC | 2.86850 | 1.79060 | −0.17108 | −1.16670 | −1.74360 | −2.21450 | I(1) |
| LL | 0.81650 | 0.17310 | −1.51470 | −3.60560 | −3.93510 | −4.32620 | I(1) |
| IR | 0.93831 | −0.47173 | −1.87810 | −3.60560 | −4.29200 | −4.19340 | I(1) |
| COM | 1.03240 | −0.57934 | −3.57830 | −3.60560 | −4.29200 | −4.19340 | I(1) |
| EF | 1.11630 | −0.00000 | −1.96380 | −2.54960 | −2.92170 | −2.88860 | I(1) |
| PRIV | 0.43004 | −1.81300 | −1.29750 | −3.60560 | −3.98860 | −4.39630 | I(1) |
| COMP | 0.43916 | −1.74190 | −1.40240 | −3.60560 | −3.98860 | −4.32100 | I(1) |
| Critical Values | −2.96650 | −3.57310 |
| −2.97060 | −3.57960 |
| |