| Variables | Augmented Dickey-Fuller | IO | |
| Levels | |||
| No Trend | Trend | ||
| LNRGDP | 2.254048 | 2.682400 | ? |
| LNLABF | −1.404255 | −0.786047 | ? |
| LNINV | −4.049724*** | −3.959953** | I (0) |
| LNEXR | −2.279752 | −0.392563 | ? |
| LNCOCX | 0.239540 | −2.747651 | ? |
| LNBANX | −2.378033 | −2.621446 | ? |
| LNPINX | −3.179227** | −3.417358* | I (0) |