Variables | Full sample (2000-2012) | Subsample (2005.07 onwards) | ||||
Test stat. | Level of significant | conclusion | Test stat. | Level of significant | conclusion | |
LREER | −8.72 | 1% | I(1) | −6.43 | 1% | I(1) |
LORTB | −2.87 | 10% | I(0) | −2.93 | 5% | I(0) |
LPROTB | −3.36 | 10% | I(0) | −3.83 | 5% | I(0) |
LFD | −3.50 | 5% | I(0) | −2.63 | 10% | I(0) |
LDD | −4.83 | 1% | I(1) | −2.77 | 10% | I(0) |
LFDI | −3.25 | 10% | I(0) | −2.18 | 5% | I(1) |
LOREX | −129.04 | 1% | I(2) | −1.64 | 10% | I(1) |
LPROEX | −3.10 | 5% | I(1) | −2.25 | 5% | I(1) |
LVATREBATE | −2.81 | 10% | I(0) | −3.83 | 5% | I(0) |
LORIM | −3.49 | 1% | I(1) | −2.23 | 5% | I(1) |
LPROIM | −1.74 | 10% | I(1) | −82.77 | 1% | I(2) |