Im, Pesaran and Shin W-stat

0.38666

0.6505

16

854

ADF—Fisher Chi-square

47.3558

0.0394

16

854

PP—Fisher Chi-square

64.6822

0.0005

16

864

LIG

Ho: Unit root (common unit root)

Levin, Lin & Chu t*

0.32254

0.6265

16

852

Breitung t-stat

0.55855

0.7118

16

836

Ho: Unit root (individual unit root)

Im, Pesaran and Shin W-stat

0.11649

0.5464

16

852

ADF—Fisher Chi-square

34.0647

0.3685

16

852

PP—Fisher Chi-square

18.1863

0.9761

16

864

LM

Ho: Unit root (common unit root)

Levin, Lin & Chu t*

0.01066

0.5043

16

859

Breitung t-stat

0.88557

0.8121

16

843

Ho: Unit root (individual unit root)

Im, Pesaran and Shin W-stat

0.43151

0.6669

16

859

ADF—Fisher Chi-square

29.9636

0.57

16

859

PP—Fisher Chi-square

39.1414

0.1799

16

864