LICON | INPR | INPU | TRAD | REER | COCO | |||||||
Demean | Trend | Demean | Trend | Demean | Trend | Demean | Trend | Demean | Trend | Demean | Trend | |
Stat | Stat | Stat | Stat | Stat | Stat | Stat | Star | Stat | Stat | Stat | Stat | |
Variable in level | ||||||||||||
LLC | −3.08** | −3.32** | −8.38** | −5.61** | −2.51** | −2.68** | −1.93* | −1.62 | −0.91** | −0.99** | −3.54** | −2.40** |
IPS | −2.67* | −2.26* | −3.76** | −5,09** | −1.73* | −2.39** | −1.88* | −2.81** | −0.77** | −1.82* | −1.75* | −1.59 |
HADRI | 8.84** | 15.38** | 14.16** | 4.92** | 3.79** | 7.24** | 11.17 | 12.10** | 29.34 | 9.26** | 10.18** | 6.48** |
Variable in first difference | ||||||||||||
LLC | −5.68** | −3.47** | −5.61** | −4.01** | −6.44** | −5.44** | −6.87** | −5.29** | −6.15** | −5.18** | −5.34** | −3.78** |
IPS | −6.26** | −6.11** | −8.04** | −7.28** | −5.64** | −5.57** | −6.56** | −6.74** | −5.96** | −5.72** | −5.02** | −5.14** |
HADRI | −0.53 | −0.65 | −1.99 | −2.70 | −1.25 | −0.97 | −1.71 | −1.92 | −0.82 | −0.01 | −1.10 | 0.27 |