Description

Differencing

Order of integration

Levels

First difference

t-value

P-value

t-value

P-value

LuSE index

−2.0779

0.5535

−4.5611

0.0017

I(1)

Interest

−1.9092

0.6449

−11.30948

0.0000

I(1)

REER

−1.941974

0.0540

−9.9055

0.0000

I(1)

Copper

−2.448232

0.3535

−8.764907

0.0000

I(1)

Oil

−2.205665

0.4827

−8.734331

0.0000

I(1)

Test critical values:

1% level

5% level

10% level

−4.019561

−3.439658

−3.144229