At Level | At First Difference | ||||||

Variables | ADF statistics | 1% critical value | 5% critical value | ADF statistics | 1% critical value | 5% critical value | Order of integration |

ACE | −4.299301* | −3.610453 | −2.938987 | --- | --- | --- | I(0) |

ARE | −0.556498 | −3.615588 | −2.941145 | −14.92359* | −3.615588 | −2.941145 | I(1) |

AVAT | −0.844933 | −3.610453 | −2.938987 | −7.338665* | −3.615588 | −2.941145 | I(1) |

ACIT | −6.171221* | −3.610453 | −2.938987 | --- | --- | --- | I(0) |

ACED | −1.146373 | −3.610453 | −2.938987 | −6.912892* | −3.615588 | −2.941145 | I(1) |

APPT | −1.238224 | −3.615588 | −2.941145 | −8.759685* | −3.615588 | −2.941145 | I(1) |