Variable

Level

t-statistic

Level

P-value

Differenced

t-statistic

Differenced

P-value

MPR

−0.138871

0.6343

−13.13974

0.0000

CRUDE OIL

−0.531852

0.4851

−8.030367

0.0000

COCOA

−0.062226

0.6605

−9.034214

0.0000

GOLD

0.696265

0.8649

−10.33796

0.0000