| CADF | |||||||
| WAEMU | CAEMC | ||||||
| Number of delay | Number of delay | ||||||
| 0 | 1 | 2 | 3 | 0 | 1 | 2 | 3 |
| Constante | |||||||
| −1.674 | −1.497 | −1.235 | −1.680 | −2.159 | −1.933 | −1.869 | −1.518 |
| −1.387 | −1.569 | −1.638 | −1.207 | −1.048 | −1.586 | −0.847 | −1.298 |
| −0.567 | −2.668* | −2.047 | −3.666* | −1.831 | −1.729 | −2.327 | −2.836* |
| −0.805 | −2.359* | −1.409 | −2.312 | −0.656 | −3.257* | −1.166 | −0.661 |
| −0.578 | −3.333* | −1.231 | −1.669 | −2.601* | −3.859* | −1.187 | −0.769 |
| −4.260* | −2.971* | −2.022 | −2.482* | −3.543* | −2.621* | −1.880 | −1.428 |
| −3.873* | −3.074* | −2.351* | −1.527 | −1.816 | −1.214 | −1.227 | −0.520 |
| −4.852* | −2.282 | −3.565* | −3.133* | −3.537* | −2.310 | −1.544 | −1.017 |
| −0.578 | −3.243* | −0.828 | −1.684 | −2.505* | −1.505 | −1.238 | −0.591 |
| −1.638 | −2.348* | −3.077* | −2.130 | −1.771 | −2.838* | −2.791* | −1.932 |
| Constante and trend | |||||||
| −2.216 | −1.813 | −1.565 | −2.110 | −2.163 | −1.921 | −1.574 | −1.397 |
| −2.286 | −2.755 | −2.098 | −1.082 | −0.654 | −1.229 | −0.534 | −0.698 |
| −2.795 | −3.522* | −2.678 | −2.192 | −3.116* | −1.768 | −1.927 | −2.226 |
| −0.708 | −3.308* | −2.024 | −2.990* | 0.404 | −3.288* | −0.720 | −1.720 |
| −0.713 | −4.656* | −2.323 | −1.291 | −1.342 | −4.213* | −2.474 | −2.238 |
| −4.267* | −3.141* | −2.287 | −3.760* | −3.846* | −2.874 | −2.079 | −2.758 |
| −3.955* | −3.535* | −2.471 | −1.521 | −2.299 | −1.586 | −1.559 | −0.949 |
| −5.205* | −0.048 | −3.424* | −2.641 | −4.373* | −1.888 | −2.207 | −2.172 |
| −2.688 | −3.783* | −2.217 | −1.709 | −4.608* | −3.782* | −3.692* | −1.909 |
| −4.037* | −2.696 | −2.826 | −2.915* | −0.764 | −4.381* | −2.884* | −2.251 |