Variable

Test

Statistic

Prob**

Cross-

sections

Obs

LGPIB

Ho: Unit root (common unit root)

Levin, Lin & Chu t*

−1.0576

0.1451

16

838

Breitung t-stat

−1.3449

0.0893

16

822

Ho: Unit root (individual unit root)

Im, Pesaran and Shin W-stat

−1.31808

0.0937

16

838

ADF—Fisher Chi-square

43.5176

0.0842

16

838

PP—Fisher Chi-square

38.8259

0.1891

16

864

LIGPIB

Ho: Unit root (common unit root)

Levin, Lin & Chu t*

−1.00081

0.1585

16

858

Breitung t-stat

−1.16582

0.1218

16

842

Ho: Unit root (individual unit root)

Im, Pesaran and Shin W-stat

−1.2211

0.111

16

858

ADF—Fisher Chi-square

43.0943

0.0911

16

858

PP—Fisher Chi-square

28.712

0.6337

16

864

LMPIB

Ho: Unit root (common unit root)

Levin, Lin & Chu t*

−2.40998

0.008

16

850

Breitung t-stat

−0.03801

0.4848

16

834