| Philip-Perron (PP) Test | ||||
| Variables | Test Statistics P value | Level of Significance | Order of Integration | |
| Log Level | First Difference | |||
| LMQ | −2.4542 | −5.9297 | 1% | I (1) |
| LFDI | −1.4437 | −11.3324 | 1% | I (1) |
| LINF | −0.8513 | −3.2348 | 5% | I (1) |
| LER | −0.8136 | −3.1544 | 5% | I (1) |
| LDET | −3.9701 |
| 1% | I (0) |
| LXPT | −1.3268 | −7.3435 | 1% | I (1) |