| Variables | At level | At first difference |
| TFP | −1.7102* | −3.97821* |
| LPW | 2.2464 | −2.12068* |
| LMS | 4.0039 | −1.97001* |
| LPS | −3.6849* | −4.97001* |
| LGVA | 1.3842 | −2.12933* |
| LLP | 1.2912 | −3.11822* |
| LK | −0.6335 | −1.93771* |
| LN | 2.7500 | −1.93771*t |