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 |