Variables

ADF test

PP test

Test result

ADF statistics

p-Value

PP statistics

p-Value

LNCNEPU

−2.437027

0.1331

0.528331

0.8292

Unstable

D(LNCNEPU)

−11.77687***

0.0000

−34.90446***

0.0001

Stable

LNCSI300

−2.587546*

0.0973

−2.492834

0.1188

Unstable

D(LNCSI300)

−4.148908***

0.0011

−12.55909***

0.0000

Stable