Variables

Type of test

No constant and no trend

with constant and no trend

with constant and trend

Critical values at 5%

Test statistics

Decision

ADF

not

not

not

−1.950687

0.0001

NS

EXPC

PP

not

not

not

−1.949856

−2.517124

I(I)

KPSS

yes

yes

0.463000

0.325518

I(I)

ADF

not

not

not

−1.952910

0.592575

NS

GFCF

PP

not

not

not

−1.949856

−1.836241

NS

KPSS

yes

yes

0.463000

0.370463

I(I)

ADF

yes

yes

not

−1.950117

−3.867436

I(I)

FDI

PP

yes

yes

not

−1.949856

−3.004153

I(I)

KPSS

yes

yes

0.463000

0.182432

I(I)

ADF

not

yes

yes

−2.960411

−7.064032

I(I)

POPCO

PP

not

yes

yes

−2.941145

−4.203295

I(I)

KPSS

not

not

0.463000

0.537019

NS