Variable

At Level I(0)

Stationarity Status

Ist Difference I(1)

Stationary Status

ADF Statistics

Critical Value

ADF Statistics

Critical Value

POV

−3.156842

−4.323979 (1%)

NS

−4.46701

4.090602 (1%)

S

−3.580623 (5%)

−3.473447 (5%)

−3.225334 (10%)

−3.163967 (10%)

EXR

−1.344554

−3.699871 (1%)

NS

−5.40757

−4.090602 (1%)

S

−2.976263 (5%)

−3.473447 (5%)

−2.627420 (10%)

−3.163967 (10%)

TDO

−7.811533

−4.088713 (1%)

NS

−7.811533

−4.088713 (1%)

S

−3.472558 (5%)

−3.472558 (5%)

−2.627420 (10%)

−3.163450 (10%)

CPI

−2.232413

−4.339330 (1%)

NS

−4.628465

−4.262735 (1%)

S

−3.587527 (5%)

−3.552973 (5%)

−3.229230 (10%)

−3.209642 (10%)

FPI

−1.957161

−4.309824 (1%)

NS

−5.834706

−4.252879 (1%)

S

−3.574244 (5%)

−3.548490 (5%)

−3.221728 (10%)

−3.207094 (10%)

FDI

−2.177122

−4.356068 (1%)

NS

−6.844252

−4.262735 (1%)

S

−3.595026 (5%)

−3.552973 (5%)

−3.233456 (10%)

−3.209642 (10%)