Variables | LC | CDB | LIQ | |||||||||
Abtest | Equation (1) | Equation (2) | Equation (3) | Equation (4) | Equation (5) | Equation (6) | ||||||
order | Z | P | Z | P | Z | P | Z | P | Z | P | Z | P |
AR (1) | −3.57 | 0.0004 | −3.37 | 0.0007 | −3.61 | 0.0003 | −3.41 | 0.0007 | −3.49 | 0.0005 | −3.276 | 0.0011 |
AR (2) | −1.25 | 0.2096 | −1.64 | 0.102 | −0.379 | 0.7044 | −1.64 | 0.1006 | −0.40 | 0.6895 | 0.126 | 0.90 |